Samsung Heavy preps Korea’s largest rights issue

The chaebol's shipbuilding unit could be on the brink of bankruptcy if it fails to complete the $1.5 billion rights offering scheduled for April, analysts say.

Samsung Heavy preps Korea’s largest rights issue

Samsung Heavy Industries is turning to existing shareholders for fresh capital for the second time in three years, as the struggling shipbuilder presses ahead with plans to raise W1.6 trillion $1.5 billion from what could be biggest rights issue in Korean history.

The cash call, first announced in December and finalised on Friday, comes soon after the shipbuilding heavyweight announced a full-year operating loss of $492 million in 2017, marking the third consecutive year of...

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