Shares in Hanjin Heavy Industries & Construction Co., a midsized South Korean shipbuilder, resumed trading on the Seoul bourse Tuesday following its financial restructuring efforts.
Hanjin Heavys stock trading had been suspended since February due to capital erosion. The shipyard saw its losses snowballing to 1.32 trillion won (US$1.15 billion) last year, from a loss of 278 billion won a year earlier as it reflected losses from its ties with its Philippine affiliate, which received approval for a rehabilitation scheme in January.
The creditors, including the state-run Korea Development Bank, then accepted a 680 billion-won debt-for-equity swap, as well as other restructuring efforts, to help the shipb…
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