[Yonhap News Photo ]
Doosan Heavy Industries, a key subsidiary of the Doosan Group, raised 136 million US dollars Thursday through the sale of treasury shares as part of a groupwide restructuring campaign to reduce its debt.
The company said in a regulatory filing that it sold 7.31 million shares worth about 161.6 billion won (136.3 million US dollars) mostly to foreign and institutional investors.
For two years, Doosan has aggressively restructured its bloated group structure to reduce its group-wide debt which stood at 11 trillion won at the end of last year. The group hopes to lower its debt to eight trillion won by the end of this year.
The group has auctioned off profitable assets. Hanwha Techwin, a Hanwha Group defense unit, has acquired a controlling 59 percent stake in Doosan Defense System & Technology (DST) for 353.8 billion won.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
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