South Korea’s Hyundai Heavy looking to boost its finances

South Korean shipbuilders are under financial strain since 2008 global economic crisis. Hyundai Heavy is the world’s second-largest shipbuilder by order book and the moves would equip the group towards the recovery, expected to start in 2019. Two moves are proposed to boost finances. The company would list its subsidiary Hyundai Oilbank in an IPO and the second is to issue 12.5 million rights shares, worth 1.21 billion USD. Read More

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