HYUNDAI ELEVATOR STOCK PRICE TO BE LOWERED: SECURITIES FIRM.

AsiaPulse News, November, 2003

SEOUL, Nov 21 Asia Pulse - The per stock price of Hyundai Elevator's (KSE:17800) 10 million new shares to be sold mid-December will likely be set at little more than 30,000 won, according to the securities firm that will carry out the sale.

Hyundai Elevator is the de facto holding company of Hyundai Group, which used to be the largest conglomerate in South Korea before the financial crisis in 1997.

"The final issue price has been estimated at 31,900 won based on simulations of the issue process that took into account the stock prices and amount of trade," Kang Yun-jae, senior managing director of Hyundai Securities, which will carry out the sale of the new Hyundai Elevator shares, said Friday,

The sale will take place Dec. 15-16 and the price had...