HD Hyundai Construction Equipment Unit to Raise KRW88 Billion via Third Party Allotment
MT Newswires Live
Sep 01
HD Hyundai Construction Equipment (KRX:267270) said its Indian unit HD Construction Equipment India will raise 87.7 billion won by issuing 11.8 million new common shares through a third-party allotment.
The South Korean equipment maker said that under the offer, the new shares will be issued at 7,459 won apiece to its largest shareholder, HD Hyundai XiteSolution Co., according to a Tuesday filing with the Korean Exchange.
The proceeds will be used to fund an industrial vehicle production facility and an R&D center, with payment due on Sept. 3 and delivery scheduled for Oct. 30.
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