Paper, Forest Products and Containers Industry News Sample

Jun 13, 2002 21:53:08

SHINHO PAPER: Creditors Plan Debt-for-Equity Swap

SOUTH KOREA (SunStream News) -- Creditors of Shinho Paper Manufacturing plan to swap KRW631.5 billion of debt and convertible bonds into shares, which will raise the creditors' stake in the company to 86% from the previous 22% and which will also allow the company not to be delisted from the main bourse Korea Stock Exchange, Maeil Business Newspaper said. Meanwhile, the company said Wednesday that its sales were estimated to have grown 6.4% in the 2001 fiscal year ending June this year. Operating income was expected to have risen 428% to KRW69 billion.

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Source: M&A Reporter - Asia Pacific

Publication Date: 2002-06-14

 

NWS:	TNM
	FNC

COY:	07190.KS

IND:	PAP

GEO:	a-ko

 

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