Samsung Heavy, Rights Offering Subscription Rate Exceeds 100%... Secures 1.2825 Trillion Won

Employee Stock Ownership and Existing Shareholders Subscription Rate Hits 103.3%
Plans for Financial Structure Improvement and Investment in Eco-Friendly Ship Development

[Asia Economy Reporter Hwang Yoon-joo] Samsung Heavy Industries succeeded in attracting strong interest in its public offering following the complete sale to the employee stock ownership association.

Samsung Heavy Industries announced on the 1st that the subscription rate for the paid-in capital increase conducted for the employee stock ownership association and existing shareholders reached 103.3%.

The number of shares to be issued by Samsung Heavy Industries is 250 million, with an oversubscription of 17,825,990 shares. The allocation ratio for the oversubscribed shares is 54.07%, and subscribers who participated in the oversubscription were allocated shares calculated by multiplying the number of oversubscribed shares by the allocation ratio, with any fraction less than one share truncated.

Samsung Heavy Industries will conduct a general public subscription on the 2nd and 3rd of this month for the 73,719 odd-lot shares generated after the oversubscription without any forfeited shares. The new shares are scheduled to be listed on the 19th.

Through this paid-in capital increase, Samsung Heavy Industries secured a total of 1.2825 trillion KRW. The company plans to actively invest in improving its financial structure and strengthening future competitiveness, including the development of eco-friendly ships.

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