Daewoo Shipbuilding & Marine Engineering Conducts Stock Subscription for Investors Not Participating in Capital Conversion

[Asia Economy Reporter Dongwoo Lee] Daewoo Shipbuilding & Marine Engineering announced on the 25th that it will accept stock subscriptions over two days, from the 13th to the 14th of next month, for corporate bond investors who did not participate in the equity conversion following the 2017 bondholders' meeting resolution.

Daewoo Shipbuilding & Marine Engineering held a bondholders' meeting in 2017 with the aim of improving its financial structure and resolved to convert more than 50% of the corporate bonds held into equity.

So far, corporate bonds worth 705.1 billion KRW have been converted into stocks, and the amount of bonds not yet converted stands at 11.4 billion KRW.

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