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Korean retailers to raise billions of dollars if global trade returns

South Korean shipbuilders and shipping companies will want to raise billions through the stock market in the second half of 2021 as industries enjoy global trade following the Covid-19 epidemic.

Hyundai Heavy Industries and shipping companies H-Line Shipping and SM Line are planning to launch a public offering of up to $ 3.3bn, according to business savings and business information, while companies bet on multi-year supercycle more sales- areas related to the fall of the decade.

“The business sentiment in the industry is increasing because the companies are growing,” a South Korean bank broker approached. “We anticipate a strong demand for IPOs because growth is expected with rising shipping costs and shipping costs.”

Hyundai Heavy Industries, one of the world’s largest shipbuilders, is expected to raise $ 1bn- $ 1.5bn from Seoul IPO in mid-August, said the retailer. The money will be used to build environmentally friendly vessels and to expand the greenhouse gas industry. strict laws of nature.

International railways and shipping companies have had a good year for more than a decade due to recovery faster than expected in global trade, due to the growing numbers jumping on shipbuilding laws and shipping costs.

International shipping regulations have doubled in the first quarter since last year, to 10.2m paid for tons of work, a task that is needed to build the ship, according to company author Clarkons Research. Korean shipbuilders passed the law halfway through.

Clarkons predicts that global authorities will jump by almost 50% this year to 31.5m CGT and reach about 35.6m CGT between 2022 and 2025. Hyundai Heavy has won 42 shipping orders worth $ 5.9bn this year, more than $ 3.5bn secured in the whole of 2020.

H-Line Shipping, the country’s second largest freight forwarding company, is expected to raise $ 800m- $ 1bn from the IPO in November. SM Shipping, a medium-sized container shipping company, is expected to raise $ 540m- $ 809m in September or October.

Shares in Hyundai Merchant Marine, Korea’s largest shipping group, more than three times this year, have been boosted by the number of major ports and Disruption of the Suez Canal in March.

Hyundai Heavy’s pre-planned IPO has been disrupted, however, by concerns about investors Death of employees. About 50 have died from accidents and illnesses in the last 10 years, with 76% of them working together, according to the company’s agreement. The Ministry of Labor last month suspended another part of the company’s Ulsan, following the death of workers this year.

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The workers’ union at Hyundai went on strike last month, demanding increased pay and corporate safety precautions. The company announced a plan last year to use Won300bn ($ 269m) in security for three years.

“We will do everything in our power to prevent this tragedy [workers] they have lost their precious lives in our workplace by ensuring that safety principles come into effect, ”said Han Young-seuk, President of Hyundai Heavy.

Advertisers are calling for a change. “They must keep their promise to change [environmental, social and governance] standards, ”said Park Yoo-kyung, an adviser to APG, a Dutch pension fund. “As long as the deaths of workers continue, we will not have any money for the company.”

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