Hyundai auto shares rise as Elliott supports group reorganization

Hyundai Glovis

17/04/2018 01:34

** Hyundai auto shares gain as Elliott shows its support for
the group's reorganization
    ** A unit of U.S. activist hedge fund Elliott Management, at
a overseas IR from Hyundai auto group, suggested
shareholder-friendly ways for the group's reorganization
including dividend increase and stock cancelling, while showing
support, said an analyst with Korea Investment and Securities in
a note
    ** Hyundai Motor  005380.KS  was up 3.3 pct to a two week
intraday high
    ** Hyundai Glovis  086280.KS  and Hyundai Mobis  012330.KS 
were up 4.8 pct and 1.2 pct, respectively 
    ** Elliott holds more than $1 billion worth of shares in key
affiliates of South Korea's Hyundai Motor Group and had
previously called for more rapid reform of the auto giant's
governance  urn:newsml:reuters.com:*:nL4N1RG5BG
    ** Broader market  .KS11  up 0.2 pct as of 0029 GMT

 ((Reuters Messaging: dahee.kim@thomsonreuters.com))