STX Heavy Industries Eyes Capital Increase

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 Staff

 

Share this article

Follow World Maritime News

Posted on January 9, 2018

In Depth>

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >