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Hanjin Shipping Co Ltd to set up new subsidiary and transfer business to subsidiary


Thursday, 26 Dec 2013 03:16am EST 

Hanjin Shipping Co Ltd:Says to invest 1,000 million won to set up a new wholly owned shipping subsidiary (Subsidiary A).Says expected establishment date of Dec. 31.Says to transfer all the assets, debts, rights and obligations of its private line business, to Subsidiary A, as capital injection of 416,315,800,000 won (8,326,316 shares, including 6,000,000 preferred stocks), to adjust financial structure.Says expected transaction settlement date of Apr. 1, 2014.Says to transfer the 6 million preferred stocks to other investors for 300 million won after the capital injection.Says to hold a 29.6 pct stake (2,526,316 shares) in Subsidiary A.Says expected transferring settlement date of Apr. 2, 2014. 

Company Quote

7450.0
-100.0 -1.32%
10:40pm EDT