Hyundai Merchant Marine acts to increase liquidity

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Hyundai Merchant Marine acts to increase liquidity

Hyundai Merchant Marine, the nation’s second largest shipping company, said yesterday that it plans to secure liquidity by increasing the limit of issuing preferred shares from the current 20 million shares to 60 million shares. The proposal will be submitted at the shareholders’ meeting scheduled to be held on March 22. If the issuance of the preferred shares is accepted the shipping company is expected to secure 300 billion won.

The shipping company is seeking to raise the limit as it is suffering from widening net loss.

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