ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Asia300

Hyundai Heavy to boost finances for expected shipbuilding rebound

South Korean conglomerate will issue $1.2bn in new shares and list Hyundai Oilbank

The Hyundai Heavy Industries Ulsan Shipyard in Ulsan, South Korea

SEOUL -- South Korea's Hyundai Heavy Industries Group plans to improve finances to bolster its core shipbuilding business. The move comes in anticipation of a warming shipbuilding market and will help clear the conglomerate's debts.

Hyundai Heavy Industries, the best earnings performer among the country's three largest shipbuilders, will issue new shares worth about $1.2 billion while a group company will list an initial public offering. Both deals are intended help weather slumps in the shipping industry.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more