Korea Development Bank doubles its stake in HMM

Korea Development Bank (KDB), which is already the largest shareholder of HMM, will double its stake in South Korea’s flagship liner operator by changing KRW300 billion (US$265.3 million) of convertible bonds into shares.

The bank announced its decision on 29 June and the conversion will raise KDB’s stake from around 12% to nearly 25%. The South Korean state-backed policy bank became HMM’s shareholder after the liner operator underwent a debt restructuring plan in 2016.

Besides KDB’s stake, the...

https://container-news.com/korea-development-bank-doubles-its-stake-in-hmm/

Leave a Comment