Products Center
More Products

HSHI and IMM Private Equity Agree to Increase Pre-IPO Investment to KRW 400 Billion

June 08, 2017

Hyundai Samho Heavy Industries (HSHI), a shipbuilding affiliate of Hyundai Heavy Industries (HHI), announced today it and IMM Private Equity, a leading Korean private equity firm, agreed to increase the pre-IPO investment to KRW (hereinafter ‘won’)  400 billion.

 

In April this year, HSHI and IMM Private Equity signed an agreement under which, HSHI will issue 5.36 million new convertible preferred shares and IMM Private Equity will pay 300 billion won in total to acquire the shares at 56,000 won per share.

 

It is reported that IMM Private Equity suggested increasing the investment in view of an array of investment inquiries it got from institutional investors after the April pre-IPO investment announcement. IMM Private Equity that already secured 50 billion won plans to acquire additional 50 billion won by the end of June.

 

An official from IMM Private Equity said, “We see the shipbuilding industry hit the historical low, and now is heading toward recovery. Bearing that in mind, it seems natural that investors are showing interests in making investment in HSHI, a leading shipbuilder.” For the first three months this year, HSHI recorded 734.3 billion won in sales and 43 billion won in operating profits, posting profits for fifth consecutive quarters on a non-consolidated basis. Moreover, by the end of May this year HSHI clinched 15 ships worth $1 billion including the world’s first four LNG-fueled 114,000 DWT ICE-Class IA aframax tankers from Sovcomflot.

 

Upon completing the 400 billion won pre-IPO investment, HSHI will lower its debt-to-equity ratio to 72.8%.

Featured

more
The Seventh Conference on Standardization of Construction Machinery Industry and the Annual Meeting of Standardization Working Committee of China Construction Machinery Industry Association in 2024 were held in Qingdao

The Seventh Conference on Standardization of Construction Machinery Industry and the Annual Meeting of Standardization Working Committee of China Construction Machinery Industry Association in 2024 were held in Qingdao

November 6, 2024—8 days,The 7th Conference on Standardization of Construction Machinery Industry and the Annual Meeting of Standardization Working Committee of China Construction Machinery Industry Association in 2024 were successfully held in Qi

Jingong New Energy has been recognized as a state-level high-tech enterprise!

Jingong New Energy has been recognized as a state-level high-tech enterprise!

November eighth,The Office of the National Leading Group for the Recognition and Management of High-tech Enterprises issued《Publicize the first batch of high-tech enterprises identified and filed by Xiamen accreditation agencies in 2024》。 Fujian Ji

The 20th National Commodity Concrete Sustainable Development Forum and 2024 China Commodity Concrete Annual Conference came to a successful conclusion!

The 20th National Commodity Concrete Sustainable Development Forum and 2024 China Commodity Concrete Annual Conference came to a successful conclusion!

Recently,By(Country)Technical Information Institute of Building Materials Industry、Sponsored by Concrete Special Committee of China Bulk Cement Promotion and Development Association,Jointly sponsored by Zoomlion and other companiesThe 20th National Com

Zoomlion Mixing Station Successfully Delivered to Wenzhou Huabang

Zoomlion Mixing Station Successfully Delivered to Wenzhou Huabang

Recently,Successful Delivery of Wenzhou Huabang Concrete Mixing Station,Enter into commissioning and production stage。3 ZoomlionHZSThe production line of the 270 top-mounted mixing station is lined up,Fifteen giant powder tanks tower over a three-story

Construction Machinery Online

Language Options

E-Mail: alina@global-ce.com TEL: 0086-10-84673349 FAX: 0086-10-84673349
Site: International - China - U.S.A - Russia - France - Spain - Portugal - India - Germany - Saudi Arabia - Indonesia

Copyright Notice 2002-2024 global-ce.com Construction Machinery Online. All rights reserved.

Address: Room 901, Building C, Ruipu Mansion, Hongjunying South Road No.15, Chaoyang District, Beijing.100107 P.R.China