Korea Shipbuilding and Offshore Engineering (KSOE) has dropped a plan to list its affiliate Hyundai Samho Heavy Industries.
Instead, KSOE said it will buy 4.65m shares in the South Korean shipbuilder from domestic fund IMM Private Equity for a price of KRW 409.7bn ($322m).
The share purchase, which is due to be completed at the start of February, will raise KSOE’s stake in Hyundai Samho to 95.7%.
