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Hyundai shipyard unloads shares to boost financial padding

South Korean shipyard Hyundai Heavy Industries is selling off shares in companies to free up capital in efforts to counter declining orders, reports The Korea Herald.

Photo: Thorbjørn Hansen

Declining orders and an ailing offshore business has spurned Hyundai Heavy Industries to sell off stakes in various companies. A subsidiary of the South Korean giant has reportedly sold 1.3 million shares in the steel company Posco, according to The Korean Herald. The sale is reportedly at half the price of the original.

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