Shares in South Korea's Hyundai Heavy Industries fell by more than a quarter on Wednesday, after investors reacted badly to plans to raise fresh funds, “BBC” reports.
Hyundai, the world's top shipbuilder by sales, aims to raise about $1.2bn (£895m) by issuing new shares, diluting the value of existing stakes. It said the cash would mainly be used to bolster its ailing finances. Hyundai has struggled during an industry-wide slump brought on by slowing global demand and overcapacity.