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PR Newswire
01-11-2013, 11:21 AM
It is so weird that it is traded much lower in Korea than in Singapore.
If the rehabilitation plan is passed, the company will consolidate two existing shares to one new share and issue additional 1 billion share to various unsecured debtors at par value of KRW1,000.
After the whole exercise, the company will have around 1.1 billion shares(1 billion newly issued and 100 million existing share after consolidation). The NAV will be around US$2 (US$1 = KRW1,000 ).
The debt of the company will reduce around US$ 1 billion (swapped for shares issued) to around US$3 billion.
Investors can forget about dividends before the company repays all its secured/unsecured debt (something similar to Jaya holdings)
If the rehabilitation plan is passed, the company will consolidate two existing shares to one new share and issue additional 1 billion share to various unsecured debtors at par value of KRW1,000.
After the whole exercise, the company will have around 1.1 billion shares(1 billion newly issued and 100 million existing share after consolidation). The NAV will be around US$2 (US$1 = KRW1,000 ).
The debt of the company will reduce around US$ 1 billion (swapped for shares issued) to around US$3 billion.
Investors can forget about dividends before the company repays all its secured/unsecured debt (something similar to Jaya holdings)