HMM plans US$620M rights issue

News-in-print

Hyundai Merchant Marine (HMM), South Korea’s largest liner shipping company, is to raise KRW694B (US$620M) through a rights issue. Money raised from the offering of 120M new shares at KRW5,780 each is to be used to help support the carrier’s recently announced newbuilding programme and its plan to achieve equity stakes in some of the container terminals it uses around the world.

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