SWIB, invested US$100 Million, is a world renowned pension fund and in charge of operating the Wisconsin Retirement System with nearly US$65 Billion in assets. This is the ninth largest public pension fund in the United Sates. Also Hyundai succeeded to induce US$100 Million of capital from Credit Suisse First Boston, a world leading investment bank. SWIB and CSFB received in return Hyundai’s treasury stocks, which had been acquired during the course of merger with LG semicon, for the investment. Hyundai succeeded in concluding this stock disposal at no discount. Through these successive investment, Hyundai reaffirmed its policy selling its treasury stocks to strategic investors or long-term investors such as SWIB and CSFB while restraining itself from selling the stocks directly in the market to minimize the increase of floating stocks and the undesirable impact to its share price consequently. Hyundai will utilize the raised capital of US$200 Million to improve its capital structure and operation of business organizations.
– Hyundai Electronics recently received US$200 Million direct investment from the State of Wisconsin Investment Board(SWIB) and Credit Suisse First Boston(CSFB) separately.
