HD Construction Equipment to Invest 87.7 Billion Won in Indian Subsidiary to Build 5,000-Unit Annual Production Facility
Translated from Korean and summarized by DistantNews. Read the original for the full story.
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- HD Construction Equipment said its Indian subsidiary will raise about 87.7 billion won through a paid-in capital increase.
- The subsidiary plans to issue 11,760,119 new shares at 7,459 won each through a third-party allotment.
- The funds will support the construction of production facilities with annual capacity of 5,000 units.
HD Construction Equipment plans to inject about 87.7 billion won into its Indian subsidiary through a paid-in capital increase, with the stated aim of building facilities capable of producing 5,000 units a year.
The Indian company will issue 11,760,119 new shares at 7,459 won per share. The offering will take place through a third-party allotment.
Before the capital increase, the subsidiary had 31,184,636 common shares outstanding. HD Construction Equipment disclosed the decision on May 31 through South Korea's Financial Supervisory Service electronic disclosure system.
About this summary
Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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