January 26, 2018 / 8:44 AM / a month ago

Samsung Heavy to issue new shares worth 1.56 trln won

SEOUL, Jan 26 (Reuters) - South Korea’s Samsung Heavy Industries Co Ltd plans to issue new shares worth 1.56 trillion won ($1.47 billion), the company said on Friday.

The world’s third-largest shipbuilder by orderbook also said in a regulatory filing it planned to increase its short-term loans by 750 billion won.

Friday’s fundraising decisions were first announced in December, in order to pay debt and cut the risk of tighter credit conditions due to its weak earnings prospects. ($1=1,063.3800 won) (Reporting by Joyce Lee; Editing by Clarence Fernandez)

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