According to a public announcement on June 11, the Financial Supervisory Service decided not to request corrections to the capital increase securities registration statement submitted by Hanwha Solutions on May 26, thereby activating the effectiveness of the statement.
The capital increase, amounting to 1.7 trillion won, will take effect from June 11.
Previously, Hanwha Solutions aimed for a capital increase of 2.4 trillion won for debt repayment and future investments in March, but regulatory intervention led to a reduction of about 700 billion won.
During the review process, the Financial Supervisory Service raised concerns about specific liquidity risks, the sale of non-core assets, and the basis for long-term profit and loss estimates, prompting two requests for revised registration statements.
Under regulatory pressure, Hanwha Solutions reduced the capital increase to 1.8 trillion won and further cut the planned debt repayment amount by 100 billion won on May 26. Ultimately, the registration statement was amended to reflect a total of 1.7 trillion won.
Of the funds raised through this capital increase, 900 billion won will be allocated for future investments, including the establishment of a perovskite tandem production line and expansion of TOPCon production capacity. The remaining 800 billion won will be used to repay debts accumulated due to the downturn in the petrochemical industry.
Hanwha Solutions plans to conduct subscriptions for employee stock ownership and existing shareholders over two days starting July 22, with the new shares expected to be listed on August 11.
* This article has been translated by AI.
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