Hyundai Merchant Marine plans a 62% capital increase to raise 694 billion won ($614 million) between now and December. The deal will be done at a 28% discount to the current share price, and comes shortly after Hapag-Lloyd’s capital increase and just over a year after Hyundai MM’s convertible bond offering. Panjiva analysis of company financial data shows the deal will cut Hyundai MM’s gearing (debt to debt plus equity) to 46% from 73% in the second quarter. That will leave it below the sector average of 53%. The funds will be used for investment in vessels and ports. Such a move raises ...