April 6, 2018 / 1:28 AM / 8 months ago

Samsung Elec to maintain stake in Samsung Heavy after rights issue

SEOUL, April 6 (Reuters) - Samsung Electronics Co Ltd said on Friday it will participate in a rights issue by Samsung Heavy Industries Co Ltd, buying 204 billion won ($192 million) of shares.

Samsung Electronics owned a 16.9 percent stake in Samsung Heavy as of end-2017 and its stake will remain roughly the same, a Samsung Heavy spokesman said.

Samsung Heavy, which has forecast a fourth straight year of operating losses, is planning a new share issuance of about 1.4 trillion won ($1.3 billion). ($1 = 1,065.2000 won) (Reporting by Joyce Lee; Editing by Edwina Gibbs)

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