Doosan Infracore raises $400 million from overseas

Home > Business > Industry

print dictionary print

Doosan Infracore raises $400 million from overseas

Doosan Infracore, the nation’s leading machinery maker, said yesterday that it has raised $400 million by selling shares to overseas investors in a bid to improve its financial health.

The company said it issued 38.8 million new global depositary receipts (GDR), or certificates of stock ownership, to foreign investors at $10.31, or 10,857 won, per share.

It will be listed on the Singapore Exchange on Dec. 20.

The affiliate of Doosan Group said the proceeds from the GDR sales will be used to repay foreign currency-denominated debt. The company expects its debt-to-equity ratio to drop below the 250 percent level from 305 percent at the end of September.

More in Industry

Eastar Jet's pilot union pushes for receivership of airline

ITC agrees to review its decision in Botox dispute

Hyundai Motor and union come to a wage freeze deal

Samsung Biologics signs supply deal with AstraZeneca

Tesla to increase battery cell purchases from suppliers including LG

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now