April 25, 2024

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[THE INVESTOR] Korean listed companies’ rights issues jumped 71 percent in the first-half of 2018 from a year earlier, data showed on July 24.
A total of 197 companies listed on the main KOSPI market and secondary KOSDAQ bourse raised a combined 10.2 trillion won (US$8.90 billion) through rights offerings as of the end of June, according to data by the Korea Securities Depository.

The jump in rights issues came after troubled shipbuilders, such as Samsung Heavy Industries and Hyundai Heavy Industries, raised a large amount of capital through rights offerings.

Samsung Heavy secured 1.4 trillion won through rights offerings in the first half.

Listed companies raised 4.2 trillion won through allocations to third parties, or about 41 percent of the total.

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