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DSME to issue new shares as part of rescue plan

The ailing Korean shipbuilding group Daewoo Shipbuilding & Marine Engineering will issue shares to the tune of around USD 490 million in an effort to get the shipyard's finances back on track ahead of a range of bond agreements which will mature in 2017.
Photo: Thorbjørn Hansen
Photo: Thorbjørn Hansen
BY DANIEL LOGAN BERG-MUNCH

Korea's Daewoo Shipbuilding & Marine Engineering (DSME) - also the world's second-largest shipyard - emerged from 2015 with an enormous deficit of USD 4.26 billion, and the shipbuilding group is currently working hard to get the business back on its feet.

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