Hanwha Aerospace set a new 52-week high on the 14th. Initially, the stock price was in a downward trend following the announcement of a 3.6 trillion won capital increase plan, but investor sentiment appears to have recovered as the scale of the increase was reduced.
Hanwha Aerospace recorded an intraday high of 804,000 won and was trading at 790,000 won as of 3:04 p.m.
This figure exceeds the previous year's (52 weeks) high of 781,000 won recorded on the 18th of last month. With this, Hanwha Aerospace reached a market capitalization of 36.1 trillion won, reducing the gap to Hyundai Motor's market capitalization of 37.5 trillion won to about 1 trillion won.
Hanwha Aerospace announced on the 20th of last month that it would carry out a capital increase of 3.6 trillion won. The purpose of the capital increase is to secure funds to enhance investments in defense, shipbuilding, and unmanned aerial vehicle engine businesses.
However, the market reaction was cold. Following Hanwha Aerospace's acquisition of a 1.3 trillion won equity stake in Hanwha Ocean from Hanwha Energy and Hanwha Impact Partners, concerns were raised that the capital increase would burden shareholders. Hanwha Aerospace received positive evaluations by deciding to reduce the capital increase from 3.6 trillion won to 2.3 trillion won.