In today’s briefing:
- Lotte Chemical – Ready to Announce Rights Offering Close to 2 Trillion Won?
Lotte Chemical – Ready to Announce Rights Offering Close to 2 Trillion Won?
- Numerous local media mentioned today that Lotte Chemical (011170 KS) is getting ready to announce a major rights offering to acquire Iljin Materials.
- The size of the rights offering has not been finalized but the range of the rights offering could be about 1 trillion won to 2 trillion won.
- There are additional concerns about Lotte Chem funding additional capital into Lotte E&C, which could face more financial difficulties in the local construction sector.
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