Samsung Electronics to maintain stake in Samsung Heavy after rights issue

SEOUL (Reuters) - Samsung Electronics Co Ltd (005930.KS) said on Friday it will participate in a rights issue by Samsung Heavy Industries Co Ltd (010140.KS), buying 204 billion won ($192 million) of shares.

Samsung Electronics owned a 16.9 percent stake in Samsung Heavy as of end-2017 and its stake will remain roughly the same, a Samsung Heavy spokesman said.

Samsung Heavy, which has forecast a fourth straight year of operating losses, is planning a new share issuance of about 1.4 trillion won ($1.3 billion).