STX Heavy Industries Eyes Capital Increase

first_imgzoom South Korean STX Heavy Industries has decided to launch a new capital increase scheme that will involve share offering and debt to equity conversion.The offering will see a total of 171, 495 of common stock issued at KRW 25,000 per share.The new shares are expected to be listed on February 1, 2018, the company said in a regulatory filing.STX Heavy Industries, which specializes in the design, manufacturing, and selling of diesel engines and other equipment for ships, went into court receivership in August 2016.The company suffered a major financial blow due to the shipbuilding industry slump.The engine manufacturer’s prospects worsened even further when its parent STX Offshore & Shipbuilding went into court receivership in 2016. The parent company accounted for the bulk of the company’s sales.World Maritime News Stafflast_img

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