Business Wire

Hyosung TNS IPO Official Corporate Statement

Share

Hyosung TNS, the Hyosung America parent company, has announced its intention to launch an initial public offering (“IPO”) on the Korean stock exchange. The exact timing, size and structure of the offering has not been finalized but the Hyosung Corporation, the South Korean holding company, 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.

The IPO will play a key role in Hyosung Corporation’s growth strategy by capturing the full market potential of the Hyosung TNS business which has delivered strong financial results over the last three years. The IPO will increase global brand recognition, further expand R&D investments for technology innovation and fuel global expansion with the target to become the global market leader.

Over the last 30 years, Hyosung Corporation has grown into a global business through diversification and a core commitment to its customers’ satisfaction and success. 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 United States, Russia, South Korea, Indonesia and Nigeria while transacting 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. Software is a growing business for the company. Recently, the largest financial institution in India placed its trust in Hyosung TNS to provide multi-vendor ATM software to operate a fleet of over 40,000 ATMs from a variety of hardware providers.

Hyosung TNS’s position as an industry leader is attributable to the company’s technology expertise, innovation leadership, best-in-class partner network and an unwavering commitment to customer success. Hyosung TNS uniquely owns all aspects of design and manufacturing for its products allowing the company to bring new technology to the market faster. The company’s Research and Development focus is on innovating in the areas of financial services technology such as next generation recycling and new branch transformation solutions, enterprise cloud-based software solutions such as cash management and predictive managed services toolsets, and self-checkout technology.

“Today’s announcement further clarifies the intent and expectations of the upcoming IPO,” said Scott Hackl, Executive Vice President. “This is an exciting time for all of us at Hyosung.”

For more information about the company go to hyosung-tns.com or hyosungamericas.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Sara Burgos:
sara@shiromasouthwest.com

Sharon Shaw:
sharon.shaw@nhausa.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

SpeeDx Launch Solution for SARS-CoV-2 Variant Analysis26.7.2021 19:40:00 EEST | Press release

SpeeDx Pty. Ltd., a developer of innovative molecular diagnostic solutions, have launched a new product line of research reagents to support reflex variant analysis for circulating SARS-CoV-2 variants of concern (VOC). The rapid development of Plex Prime® SARS-CoV-2 Genotyping* tests will support investigations and monitoring of the range of emerging and circulating SARS-CoV-2 VOC that have been linked to increased transmissibility, reduced vaccine efficacy, or other characteristics that may require specific public health actions.1 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210726005313/en/ SpeeDx unique technology excels in mutation detection applications and can readily be applied to variants reported in the SARS-CoV-2 sequence databases. Compatible with standard qPCR instrumentation, the PlexPrime® SARS-CoV-2 Genotyping research reagents can reduce the manual process of preparing positive samples for sequence analysis

V-Square Appoints Erik Norland as Head of Distribution26.7.2021 18:00:00 EEST | Press release

V-Square Quantitative Management (V-Square) has announced the hiring of Erik Norland as its Head of Distribution. A 20-year industry veteran with asset management, custody, and global markets expertise, Erik’s addition to the team bolsters our strong client-centric approach to deliver customized ESG solutions as we continue to build our reputation as a specialized global asset manager. He will lead the firm's sales, consultant relationship and client service functions across institutional, insurance and wholesale. Mr. Norland, based in Stockholm, will report to Mamadou-Abou Sarr, co-founder and President and will join the global leadership team. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210726005571/en/ Erik Norland, Head of Distribution (Photo: Business Wire) "Erik is a results-focused leader who brings excellent experience in distribution strategy and execution, sales management and client relationship roles. I had th

Private and Public Sector Join Forces Under the Umbrella of the kENUP Foundation: BioNTech Announces Project to Develop the First mRNA-Based Prophylactic Malaria vaccine, and the set-up of Manufacturing Infrastructures in Africa26.7.2021 17:10:00 EEST | Press release

Today, BioNTech SE (“BioNTech”) announced the start of its Malaria project which aims at the development of a safe and highly effective malaria vaccine and the implementation of sustainable vaccine supply solutions on the African continent. The company’s project is part of a programme by the kENUP Foundation to accelerating the eradication of Malaria. This goal was out of reach so far, despite enormous financial and public health efforts of the global community. The scientific and entrepreneurial progress made during the COVID-19 pandemic raise hopes that a highly efficacious vaccine could soon help to eradicate Malaria. BioNTech aims to develop a safe and highly effective mRNA vaccine with durable protective immunity for prevention of malaria and disease associated mortality. To this end, BioNTech will assess multiple vaccine candidates featuring known Malaria targets such as the circumsporozoite protein (CSP), as well as new antigens discovered in the pre-clinical research phase. The

PPG to Expand Production Capacity for PPG ISENSE Gloss Beverage Can Coatings at Delaware, Ohio, Plant26.7.2021 16:02:00 EEST | Press release

PPG (NYSE:PPG) today announced that it is currently adding capacity for the production of overvarnish coatings for beverage can exteriors, including PPG ISENSE™ Gloss coatings, at its Delaware, Ohio, plant. PPG expects the addition of the Delaware plant’s new volume to existing overvarnish capacity at its Oak Creek, Wisconsin, packaging coatings facility will increase the company’s overall production of overvarnish coatings in the U.S. by 40%. “Beverage can manufacturers around the world are facing unprecedented demand for their products,” said Todd White, PPG general manager, U.S. and Canada, and global strategic accounts, packaging coatings. “With this added capacity, we are committed to helping them meet that demand while adding more security to their supply chain for beverage can coatings.” In addition to increasing supply chain security for its customers and the packaging industry, the Delaware plant will provide in-line analytical capabilities for enhanced batch consistency. “PPG

NET ZERO Leaders Summit (Japan Business Conference 2021) - Online Event From Wednesday, July 28 : Latest Information26.7.2021 16:00:00 EEST | Press release

Japan’s Ministry of Economy, Trade and Industry (METI) and the Japan External Trade Organization (JETRO) are pleased to announce the jointly organized “NET ZERO Leaders Summit (Japan Business Conference 2021)” to accelerate innovation in green investment and the realization of carbon neutrality. The event will take place from Wednesday, July 28, and will be held online. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210726005389/en/ Entrance_Lobby_Image (Graphic: Business Wire) Main Program In the main program, panel discussions will be held between 15 leaders of global companies and organizations. In addition, Mr. SASAKI Nobuhiko, Chairman and CEO of the Japan External Trade Organization (JETRO), will present the opening remarks, Mr. TOKURA Masakazu, Chairman of KEIDANREN (Japan Business Federation), will present the keynote speech and Prime Minister SUGA Yoshihide and Minister of Economy, Trade and Industry KAJIYAMA Hirosh

ADM Accelerates Growth of Leading Global Alternative Protein Platform with Planned Acquisition of Sojaprotein26.7.2021 15:05:00 EEST | Press release

Global nutrition leader ADM (NYSE: ADM) announced today that it has reached an agreement to acquire Sojaprotein, a leading European provider of non-GMO soy ingredients. Established in 1977, Serbia-based Sojaprotein has sales into 65 countries, offering a wide array of non-GMO vegetable protein ingredients for an extensive list of European and global customers in the meat alternative, confectionary, protein bar, pharmaceutical, pet food, and animal feed segments. The company had more than $100 million in sales in 2020. “Thirty years ago, ADM invented the soy vegetable burger, giving rise to the plant-based protein segment. Today, alternative proteins represents one of our core growth platforms, and as this $10 billion global industry grows to $30 billion over the next decade, we are investing to expand our unparalleled capabilities,” said Leticia Gonçalves, ADM’s president of Global Foods. “The addition of Sojaprotein – the largest producer of plant-based protein in southern Europe – ad

ABB to Divest Mechanical Power Transmission Division (Dodge) to RBC Bearings for $2.9 Billion26.7.2021 14:30:00 EEST | Press release

ABB today announced it has signed a definitive agreement to divest its Mechanical Power Transmission division (Dodge) to RBC Bearings Incorporated (Nasdaq: ROLL), for $2.9 billion in cash. The transaction will create a leading manufacturer of highly engineered, performance-critical bearings and motion control components. The transaction is expected to be completed by the end of the year 2021, subject to customary closing conditions, including regulatory review. For more than 140 years, the Dodge business has been a leader in the design, production, and marketing of mounted bearings, enclosed gearing, and power transmission components. It offers one of the broadest portfolios of mechanical power transmission products in the market, selling to industries such as surface mining, aggregates & cement, warehousing and food & beverage. Dodge has roughly 1,500 employees worldwide and achieved revenues of approximately $600 million for the last twelve months ending June 30, 2021, of which more

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom