Hanwha Solutions cuts rights offering size 1 trillion 7,092 billion won
Hanwha Solutions 5 held a board meeting on 26 and approved a plan to reduce the size of its rights offering from 1 trillion 8,144 billion won to 1 trillion 7,092 billion won, and submitted a voluntary correction filing to the Financial Supervisory Service. The number of new shares to be issued will be reduced from 5,600 million to 5,300 million, while facility investment will be maintained and the amount allocated to debt repayment reduced.
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Hanwha Solutions 5 held a board meeting on 26 and approved an amendment to reduce the size of its rights offering from 1 trillion 8,144 billion won to 1 trillion 7,092 billion won. Based on the amendment, the company submitted a voluntary correction filing to the Financial Supervisory Service. The board resolution was confirmed through a company disclosure.
The number of new shares to be issued was reduced from 5,600 million to 5,300 million. The company disclosed the reduction in the number of shares to be issued. The corrected filing includes details of the change in the number of new shares to be issued.
The company said that 9,077 billion won for facility investment would remain unchanged. The company disclosed that the amount is included in its future growth investment plan. The overall framework of the investment plan remains unchanged.
The scheduled debt repayment amount was9,067 hundred million won, down to8,015 hundred million won. The amended filing reflects the reduction in debt repayment. The company said it would also take additional measures to make up for the funding shortfall.
The company disclosed that it was considering additional self-help measures, including pursuing the sale of its U.S. venture investment fund, to secure the funding shortfall. It said it would adjust its funding structure in a way that reduces the burden on shareholders. No specific sale schedule or target has been disclosed.
The company disclosed that it would allocate funding to upgrading its perovskite tandem pilot line of1,000 hundred million won, and to expanding the production capacity of its tandem mass-production line and TOPCon of8,000 hundred million won. It said these items are included in its future growth investment plan. Further details will be provided in future disclosures.