Hanwha Aerospace's capital increase, which began in March, has passed the Financial Supervisory Service's (FSS) intensive review. Hanwha Aerospace initially planned a capital increase of 3.6 trillion won, but amidst requests for corrections from the FSS and pushback from existing shareholders, the amount was reduced to 2.3 trillion won.
According to the Financial Supervisory Service's electronic disclosure system on the 28th, the effectiveness of the securities report submitted by Hanwha Aerospace in March has taken effect. Initially, the effectiveness was scheduled to take place in early last month, but requests for corrections due to the intensive review delayed funding by more than a month.
However, as the effectiveness of the capital increase has been delayed, the amount of funding that can be raised is likely to increase somewhat compared to the initial expectations. Hanwha Aerospace disclosed on the 21st that the first offering price for the new shares in the capital increase has been set at 684,000 won. The planned offering price was initially 539,000 won, but due to rising stock prices in the interim, the offering price was set approximately 25% higher.
Calculating this based on the number of shares to be issued, the size of the new share issuance is at the level of 2.92 trillion won. It was initially planned to raise 2.3 trillion won, but the funding size has increased by about 620 billion won.
The final offering price will be determined based on the stock price on the 26th of next month. If the stock price holds at around 800,000 won during this period, the first offering price will become the final offering price. If the stock price falls below 800,000 won, it will be recalculated based on the stock price at that time. Additionally, if the weighted average stock price from the 24th to the 26th of next month exceeds 1.14 million won, the funds raised will increase further.
However, even after the effectiveness of the capital increase securities report has taken effect, the FSS can still request corrections until the actual subscription takes place. Investment industry sources believe that it is unlikely for the FSS to request corrections after the effectiveness has been established.