[Featured Stock] Doosan Heavy Industries Plunges 14% on 1.5 Trillion Won Capital Increase Plan

On the 4th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSPI index opened at 3,000.92, up 25.21 points from the previous session. The won-dollar exchange rate started at 1,178.5 won, down 3.1 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Ji Yeon-jin] Doosan Heavy Industries & Construction is experiencing a sharp drop of over 14% during trading on the 29th following the announcement of a large-scale capital increase plan exceeding 1 trillion won.

As of 9:45 AM on the same day, Doosan Heavy Industries & Construction's stock is trading at 19,800 won, down 14.10% (3,250 won) compared to the previous trading day.

The sharp decline is interpreted as reflecting concerns that the large-scale capital increase will dilute the stock value.

On the 26th, Doosan Heavy Industries & Construction announced that it plans to raise a total of 1.5 trillion won through a rights offering followed by a general public offering of unsubscribed shares, including 700 billion won for debt repayment and 800 billion won for other funds. The planned issue price announced at that time was 18,100 won, approximately 21.5% lower than the closing price on the announcement day (23,050 won).

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