Korean Air takes off with $2.2bn rights offering

By Jonathan Breen
09 Mar 2021

South Korea’s flag carrier Korean Air has topped up its coffers with W2.5tr ($2.19bn) in fresh equity after sealing a jumbo rights issue.

The company has sold 173.6m rights shares on a basis of one for every one existing share. The stock was offered at W19,100 apiece, giving shareholders a 26.78% discount to the theoretical ex-rights price of W26,087.

The rights issue was announced on January 6 and wrapped up on ...

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