Doosan Heavy Industries & Construction to raise 700 bln won via stock offering

Doosan Heavy Industries & Construction-capital increase

Doosan Heavy Industries & Construction to raise 700 bln won via stock offering

SEOUL, Nov. 26 (Yonhap) -- Doosan Heavy Industries & Construction Co.on Friday announced that it will sell stocks to raise 700 billion won(US$586.6 million). The proceeds from the stock sale will be used mainly to pay off its debts.

According to a regulatory filing, the company will issue some 82.87 million common shares at a price of 18,100 won per share. The stocks will be sold to the firm’s shareholders.

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