ID :
209031
Fri, 09/23/2011 - 12:22
Auther :
Shortlink :
https://oananews.org//node/209031
The shortlink copeid
Hanjin Shipping to sell 472 bln won worth of new shares
SEOUL (Yonhap) - Hanjin Shipping Co., South Korea's leading shipping line, said Friday it will raise some 472 billion won (US$405 million) by selling new shares.
The 40 million new stocks will be sold at 11,800 won per share, and be listed on Nov. 24, the company said in a regulatory filing.
"We decided to sell shares to improve our financial conditions and prepare for an deepening downturn of the global shipping industry," said a representative of the shipping line.
Shares of Hanjin Shipping dropped by the daily limit to close at a yearly low of 13,700 won on the Seoul bourse.
The 40 million new stocks will be sold at 11,800 won per share, and be listed on Nov. 24, the company said in a regulatory filing.
"We decided to sell shares to improve our financial conditions and prepare for an deepening downturn of the global shipping industry," said a representative of the shipping line.
Shares of Hanjin Shipping dropped by the daily limit to close at a yearly low of 13,700 won on the Seoul bourse.
