On the 21st, Hanwha Holdings, the holding company of Hanwha, saw its stock price plunge in pre-market trading due to the impact of a large-scale paid-in capital increase by Hanwha Aerospace.
As of 8:43 a.m. that day, Hanwha was trading at 43,900 won, down 7.58% compared to the previous day's closing price in the NexTrade pre-market. The trading volume was 42,159 shares. The trading volume for Hanwha that day recorded the highest level since the start of pre-market trading.
Hanwha Aerospace announced that it decided on a shareholders' allocation paid-in capital increase worth 3.6 trillion won after the market closed the day before. The company noted that through this capital increase, it aims to secure global bases in defense, shipbuilding, and aerospace sectors.
Hanwha Aerospace is not yet subject to alternative trading venue transactions. It is a stock listed for three-step trading starting next week.
In the securities industry, expectations were made that short-term stock price weakness could continue. Kwang-sik Choi, a researcher at DAOL Investment & Securities, said, "I agree on the necessity of investing to localize defense in Europe and the Middle East and enter the U.S. combat ship market through joint ventures," but noted, "the method of financing is disappointing."
Dong-hun Lee, a researcher at Shinhan Investment & Securities, said, "The company's judgment likely involved a sense of urgency regarding the investment and the fact that the amount is hard to secure through cash flow or borrowing," adding, "the urgency of the investment is a key issue."