Hanjin to Raise 100 Billion KRW in Capital Increase... "Securing Investment Funds and Strengthening Financial Soundness"

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] Hanjin is launching a large-scale paid-in capital increase to secure investment funds for its courier and logistics business.

On the 6th, Hanjin held a board meeting and announced that it decided on a paid-in capital increase worth 100 billion KRW. This capital increase will be conducted through a rights offering to existing shareholders followed by a general public offering for any unsubscribed shares.

The planned issue price per new share is 35,150 KRW. The lead underwriters are Korea Investment & Securities, Eugene Investment & Securities, Mirae Asset Daewoo, and NH Investment & Securities.

The final issue price will be confirmed on October 23, and the new shares are scheduled to be listed on November 18. The subscription period is set for October 28-29, and the payment date is November 5.

Upon completion of this capital increase, Hanjin’s total issued shares will increase from the current 11,974,656 shares to 14,947,628 shares.

Hanjin explained that this capital increase aims to secure investment funds to strengthen the competitiveness of its core courier and logistics business in line with the growth of the e-commerce market and the rapidly changing logistics industry environment, as well as to enhance financial soundness.

To achieve a 20% market share in the courier industry, Hanjin is building a mega hub terminal in Daejeon and plans to open the Incheon Airport GDC (Global Distribution Center for e-commerce international logistics) this month to target the e-commerce international special transport market. Hanjin plans to invest approximately 480 billion KRW by 2023.

This content was produced with the assistance of AI translation services.