이 누리집은 대한민국 공식 전자정부 누리집입니다.

한상넷

비즈니스 정보

Biz News Korea(Eng)

NH PE creates fund to invest in EBs in Polaris Shipping

Collected: 2017.03.13

Distributed: 2017.03.14

Source: Go Direct

South Korea’s NH Private Equity (PE), private-equity unit of NH Investment & Securities Co., joined up with fledgling private equity operator Enius PE to invest around 150 billion won ($130.4 million) in mid-sized dry bulk carrier Polaris Shipping Co. ahead of its planned initial public offering amid fragile signs of recovery in the shipping segment.

According to the investment banking industry Sunday, NH PE - Enius PE consortium is courting institutional investors from the public sector to create a fund designed to invest in the bulk carrier.

The fund would buy bonds worth 150 billion won exchangeable to 103,000 shares, or a 7.55 percent stake in Polaris Shipping owned by its holding company Polaris Energy & Marine Co. The bond would yield over 7 percent per annum.

Investors in the bond could generate greater returns should the shipping company go public as hoped for later in the year amid improvement in shipping market conditions. If even the public offering is delayed or called off, investors still have bond security.

By Kang Doo-soon and Song Gwang-sup

Read in Korean

List

Previous: Samsung Elec completes Harman takeover worth $8 billion

Next: Kumho Asiana pleads creditors to allow him to seek investors to buy back Kumho Tire