Daewoo Shipbuilding Selling Shares to Raise Funds

South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd said on Thursday it is planning to sell shares to raise funds by the end of this year, with details to be discussed with its creditor banks.

Daewoo Shipbuilding, the world's largest shipyard in terms of orderbook tonnage for July, according to Clarksons Research, reported earlier this week net losses of 1.19 trillion won ($1.08 billion) for the first half of 2016.

 

Reporting by Joyce Lee