April 18, 2024

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[THE INVESTOR] Hyundai Heavy Industries said on March 12 that it has raised 1.23 trillion won (US$1.15 billion) in a rights issue.

The new shares are set to be listed on the country’s main bourse on March 27.

HHI said it will use about 820 billion won in improving its financial status and spend the remainder in research and development for eco-friendly and smart vessels.

The latest capital hike has lowered the company’s debt-equity ratio to 78 percent from 89.9 percent in December last year.

HHI said it has received orders to build 29 ships worth US$2 billion this year through March 5.

By Song Seung-hyun (ssh@heraldcorp.com)