Hyundai Merchant Marine (HMM) is planning to raise more cash from an asset sale as its stock price jumped.
The restructuring company is to offload shares worth KRW 30.8bn ($26.12m) in banking group KB Financial, it said in a regulatory filing.
KB has already agreed to buy HMM's stake in brokerage Hyundai Securities for $1.04bn, with payment due this month.
The money is essential for the loss-making shipowner, which is still trying to conclude charter-reduction talks with third-party shipping companies.
This
