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HD Korea Shipbuilding to sell W600 bil. worth of exchangeable bonds

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An artist's impression of HD Korea Shipbuilding & Offshore Engineering's container vessel propelled by small modular reactors. Courtesy of HD Korea Shipbuilding & Offshore Engineering

An artist's impression of HD Korea Shipbuilding & Offshore Engineering's container vessel propelled by small modular reactors. Courtesy of HD Korea Shipbuilding & Offshore Engineering

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) said Tuesday it will sell 600 billion won ($419 million) worth of bonds exchangeable into its stocks.

The proceeds from the 5-year bond sale will be used for operational purpose, investment, and research and development.

The bond will be exchanged into some 1.73 million shares and at 346,705 won per share, according to the shipbuilder.

HD KSOE closed at 223,500 won on the Seoul bourse Tuesday, up 5.67 percent from the previous session's close. (Yonhap)