Daewoo Shipbuilding to Issue New Shares Worth $353 Mln
Daewoo Shipbuilding & Marine Engineering Co Ltd said on Tuesday it will issue new shares worth 414 billion won ($353.1 million) to improve its financial position.
Daewoo Shipbuilding, the world's largest shipbuilder in orderbook by tonnage, is set to report its biggest yearly operating loss this year after a loss of $2.6 billion in the second quarter due to construction delays on offshore projects.
($1 = 1,172.5100 won)
(Reporting by Joyce Lee; Editing by Gopakumar Warrier)
