Hyundai Heavy Industries, the shipbuilder, is projecting sales will fall to 13.6 trillion won in 2018 from an estimated 15.4 trillion won this year, the company said in another filing.
SINGAPORE: Hyundai Heavy Industries Co, the world’s second-biggest shipbuilder, plans to raise about 1.29 trillion won (US$1.2bil) selling new shares for working capital amid shrinking orders in the global industry.
The company intends to sell 12.5 million new shares before the end of March at an estimated price of 103,000 won each, a discount of about 24% to the closing level of 136,000 won yesterday.
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