South Korean shipbuilder Samsung Heavy Industries (SHI) has decided to sell stock and raise around KRW 1.23 trillion ($1.1 billion), says an article published in Offshore Energy.
Finance for environmentally-friendly technologies
SHI, a shipbuilder, intends to offer 250 million shares at KRW 4.950 per share. On October 25, 2021, Company will confirm the price, and employees will be provided 20% of the new shares, while stockholders are provided the rest.
The public will later be given a chance to purchase the shares. SHI plans to use the funds to enhance its financial condition and develop environmentally-friendly ship technologies.
At the same time , Hyundai Heavy Industries (HHI) said that it would raise KRW 1.08 trillion in capital to fund the development of environmentally friendly vessel technology. Hyundai Heavy Industries is a Korean shipbuilder, based in Seoul, South Korea.
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Source: Offshore Energy