Innovation
Hyosung TNS launching IPO
November 12, 2020
Hyosung TNS, the parent company for Hyosung America, has announced its intention to launch an initial public offering on the Korean stock exchange. The exact timing, size and structure of the offering has not yet been finalized, but the Hyosung Corporation intends to remain the majority owner of Hyosung TNS, KB Securities Co. and Daishin Securities Co. have been selected as the lead managers for this effort, according to a press release.
Hyosung TNS business has delivered strong financial results over the past three years and the IPO will play a key role in Hyosung Corporation's growth strategy. The IPO will help to increase global brand recognition, further expand R&D investments for technology innovation and fuel global expansion.
Over the last 30 years, Hyosung Corporation has grown into a global business through diversification and a core commitment to customer satisfaction. Hyosung TNS is and will continue to be an important and integral part of Hyosung Corporation's growth strategy.
Hyosung TNS has a diversified portfolio of solutions for the retail and financial institution markets and is the ATM market leader in the U.S., Russia, South Korea, Indonesia and Nigeria, and also transacts business in 30 countries globally. The company has planned expansion into Europe, South America, Middle East and Africa.
The company's innovative solution portfolio includes ATMs, teller cash recyclers, core integrated self-service, multi-vendor software applications, retail kiosks, self-checkout systems, professional services and maintenance services.
"Today's announcement further clarifies the intent and expectations of the upcoming IPO," said Scott Hackl, EVP. "This is an exciting time for all of us at Hyosung."
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Hyosung Americas is a global human experience maker that bridges the physical and virtual worlds. We do this by harnessing our unique combination of a manufacturer’s soul with an innovator’s mindset to build a platform of integrated products, services, and ideas that improve life’s day-to-day interactions for everyone.
