Industry
Korean Air to sell over W500 billion worth of shares
Jan. 6, 2015
Korean Air Lines Co., South Korea's largest flag carrier, said Tuesday it will sell more than 500 billion won ($455 million) worth of shares to raise money needed to repay debt.The company's board of directors decided to sell 14,164,306 shares at 35,300 won apiece, it said in a regulatory filing.The share offering will increase the number of the company's outstanding shares to 73,950,538.Korean Air said the raised money will be used to repay debts and improve its financial status."This will help