South Korean Hyundai Group’s chairwoman is set to pay in about 30bn won (US$24m) of her personal funds in an attempt to recover the company’s shipping segment, local media reported.
The shipping business Hyundai Merchant Marine (HMM) reportedly said in a regulatory filing that it would raise share capital by issuing 6m shares through a third-party allotment.
Hyun Jeong-eun and her mother Kim Moon-hee are expected to purchase 4m and 2m of the newly-issued shares respectively.
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