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/