Korean Air prices $3b rights offering at 19,100 won apiece
Korean Air priced its new shares in the country’s biggest-ever rights offering of 3.3t won ($2.94b) at 19,100 won apiece to finance the buyout of full-service rival Asiana Airlines with half of the sum. According to the flag carrier`s disclosure Tuesday, of the offering of 173,611,112 shares, 20% allocated to the employee shareholders’ association can be subscribed on Thursday and existing shareholders including Hanjin KAL Corp. assigned with an estimated 41.88m shares through 800b won financed from state lender Korea Development Bank (KDB) on the following day. Forfeited shares will be put up for public subscription on Sept. 9-10. Of the 3.3t won in new capital, 1.5t won will go to the buyout of Asiana Airlines and the rest to pay off debt. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-03-03/sky/korean-air-prices-3b-rights-offering-at-19-100-won-apiece
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Korean Air prices $3b rights offering at 19,100 won apiece
Korean Air priced its new shares in the country’s biggest-ever rights offering of 3.3t won ($2.94b) at 19,100 won apiece to finance the buyout of full-service rival Asiana Airlines with half of the sum. According to the flag carrier`s disclosure Tuesday, of the offering of 173,611,112 shares, 20% allocated to the employee shareholders’ association can be subscribed on Thursday and existing shareholders including Hanjin KAL Corp. assigned with an estimated 41.88m shares through 800b won financed from state lender Korea Development Bank (KDB) on the following day. Forfeited shares will be put up for public subscription on Sept. 9-10. Of the 3.3t won in new capital, 1.5t won will go to the buyout of Asiana Airlines and the rest to pay off debt. <br/>
