Hyundai Merchant Marine (HMM) has raised $112.5m

South Korea’s Hyundai Merchant Marine (HMM) sold 6.19m convertible preferred shares to Market Vantage of Hong Kong for KRW 60bn, following a deal three months earlier to sell 6.81m shares for KRW 57bn.
Hyundai Merchant Marine (HMM) has said in June it would sell KRW 114bn-worth of shares to the group.The preferred stock can be converted after a year.
Hyundai Merchant Marine (HMM) has been selling off assets and investments to meet debt payments.