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HMM details new share plan

HMM details new share plan
South Korea's Hyundai Merchant Marine (HMM) detailed plans on Friday to raise KRW693.6bn ($614m) for two share sales. Cash raised will go on new ships and terminals, HMM said in a release.

HMM last month revealed it had bought a pair of Hanjin Heavy large boxship resales for $162m, as well as inking orders at Daewoo Shipbuilding & Marine Engineering (DSME) for five firm plus five option VLCCs. The five firm orders are costing $419m.

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