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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, May 27 — Hanwha Solutions has reduced the size of its planned rights offering to KRW 1.7 trillion, reflecting shareholder concerns and regulatory feedback.
The company said the revised plan maintains KRW 900 billion in growth investments while lowering the portion allocated to debt repayment from KRW 900 billion to KRW 800 billion. To cover the funding gap, Hanwha Solutions plans to sell stakes in a U.S.-based venture investment fund.
The move follows a series of downward revisions from an initial KRW 2.4 trillion plan announced in March, amid criticism that the capital raise would be used primarily to repay debt.
Hanwha Solutions noted that it faces over KRW 900 billion in maturing debt this year, including corporate bonds and commercial paper, making timely repayment critical to avoid potential credit rating downgrades.
The company said it remains committed to improving its financial structure while continuing investments in future growth areas such as energy and sustainability.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
https://www.alphabiz.co.kr/news/view/1065604105032739
This article is based on global economic content from Alphabiz, which distributes English-language news on Korean markets and companies to international audiences.
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