Hyundai Commercial to buy additional 3% stake in Hyundai Card at $54 mn

Hyundai Commercial, a major shareholder of Hyundai Card, will acquire additional 3.02% stake in the credit card company. It is buying a total of 4,851,112 shares of Hyundai Card from 1,946 minority shareholders at 13,757 won ($11.07) apiece, or 66.7 billion won in total. Hyundai Card’s major shareholders are Hyundai Motor (36.96%), Kia (11.48%), Hyundai Commercial (28.56%), and Taiwanese financial service company Fubon (19.98%). The credit card company currently does not have any immediate plan of IPO upon receiving Fubon as a strategic investor.

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