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Samsung Heavy shares extend losses on rights issue plan
December 7, 2017 / 12:12 AM / in 6 days

Samsung Heavy shares extend losses on rights issue plan

SEOUL, Dec 7 (Reuters) - Shares of Samsung Heavy Industries extended losses on Thursday, down 1.8 percent following a 29 percent slide the previous day when the South Korean shipbuilder announced a $1.4 billion rights offering plan to cut credit risks.

On Wednesday, Samsung Heavy Industries announced its second rights offering in two years and forecast a fourth straight year of operating losses, prompting brokerages to cut target prices for the shipbuilder. (Reporting by Hyunjoo Jin; Editing by Stephen Coates)

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