Korean shipbuilder Hyundai Samho Heavy Industries raised $375 million in an accelerated block in building materials manufacturer KCC Corp on Wednesday night
Hyundai, the world's fourth largest shipmaker, offered some 803 million shares between W507,000 to W523,000 per unit under the leads of Citi and Daewoo Securities, representing a 3 9% to 6 8% discount to the November 19 close of W544,000 per unit, according to a term sheet
The shipbuilder sold 803 million shares at P517 per unit, a 4 9% discount to the November 19 close, and raised $375 million from the share sale It offloaded its entire stake, which equated 7 6% of the company’s outstanding shares
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