SEOUL, Shares of Hyundai Motor Co., South Korea's leading carmaker, jumped on Monday as it confirmed that its India unit has filed for an initial public offering (IPO). Hyundai Motor had surged 6.34 percent to 285,000 won (US$206) shortly after opening, marking a fresh 52-week peak. The stock pared early gains to 279,000 won as of 10:30 a.m. Earlier in the day, Hyundai Motor said in a regulatory filing that its India unit submitted IPO documents to an Indian regulator. Hyundai Motor said a listing of its India unit will be determined after India's regulatory body reviews, without elaborating further. Source: Yonhap News Agency
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