Ssangyong Motor, Mahindra and Other Foreign Creditors' Third-Party Allocation Rights Offering
[Asia Economy Reporter Hyunseok Yoo] Ssangyong Motor announced on the 8th that it has decided to conduct a third-party allotment paid-in capital increase targeting overseas creditors including Mahindra.
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New shares totaling 1,711,896 common shares will be issued at 5,000 KRW per share, with the new shares scheduled to be listed on the 30th of this month. The third-party allotment recipients are overseas rehabilitation creditors such as Mahindra & Mahindra. Ssangyong Motor explained the background, stating that this is a repayment through debt-to-equity conversion of rehabilitation bonds and is intended to compensate creditors for losses due to the rise in the KRW-USD exchange rate.
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