Hyundai Samho Attracts USD 356 Mn of Investment

Image Courtesy: HHI

South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) has collected KRW 400 billion (USD 356 million) of investment through its pre-initial public offering.

Coming from the local private equity company IMM Private Equity (IMM PE), the investment is more than the initially planned KRW 300 billion.

Hyundai Samho said that the rise in the amount signals investors’ interest in the company’s premarket debut process, according to Yonhap News Agency.

The pre-IPO agreement is scheduled to be completed by the end of June 2017.

The shipbuilder delivered an operating income of KRW 43 billion in the first quarter of 2017, while its sales reached KRW 734 billion for the period.

Hyundai Samho strengthened its orderbook with 15 new vessels, valued at USD 1 billion, by the end of May.

World Maritime News Staff

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