LG Electronics to Raise $940 Million in Rights Offering

LG Electronics Inc.’s board approved a plan to raise $940 million via a rights offering, news that sent shares of the South Korean consumer electronics firm down by more than 13 percent Thursday.

LG said the move will allow the company to secure funds to invest in key businesses including smartphones and it also plans to hire more workers. The company plans to issue 19 million new common shares at 55,900 won ($50) each, representing a 9 percent discount to their Thursday closing price of 61,600 won. LG’s shares had their biggest one-day drop in more than three years Thursday, closing down 13.7 percent as investors were concerned about share dilution. The new shares will begin trading on Jan. 9.

Read the rest of this post on the original site »

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »