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Article: HYUNDAI ELEVATOR ANNOUNCES MASSIVE CAPITAL INCREASE.
- Article from:
- AsiaPulse News
- Article date:
- November 19, 2003
CopyrightCOPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SEOUL, Nov 19 Asia Pulse - Hyundai Elevator Co. (KSE:17800) said today it will offer 4.34 million common shares valued at 21.7 billion won (US$18.4 million) to shareholders in a bid to help boost its shareholder value.
Hyundai Elevator Chairwoman Hyun Jung-eun said in a press conference that the free stock offering would help make up for heavy losses incurred by its minority shareholders.
Under the terms of the capital increase, which was approved at the company's board meeting, shareholders will receive ...