Hansol Technics, a corporations specializing in electrical and electronic components, was strong in early trading on the 14th. Shares gained for a second straight session on news it is pushing a rights offering to acquire a semiconductor probe card manufacturer.
As of 9:30 a.m. that day, Hansol Technics was trading at 7,090 won on the Korea Exchange, up 580 won (8.91%) from the previous session. Following a limit-up close the day before, shares were strong again.
Hansol Technics said on the 13th it will conduct a 90 billion won rights offering and use the funds raised to acquire a new subsidiary. It will raise 45 billion won each through a third-party allotment and a shareholder allotment followed by a public offering.
In the shareholder-allotted rights offering, the holding company Hansol Holdings will participate and invest up to 61.7 billion won. New shares for general shareholders will be priced at 3,625 won per share with a 20% discount, while shares allotted to Hansol Holdings participating in the shareholder-allotted rights offering will be priced at 4,885 won per share.
The company being newly acquired is Wol Technology, a corporations that produces probe cards. The acquisition price for Wol Technology is 177.2 billion won. Hansol Technics plans to secure up to 83% equity in Wol Technology and incorporate it as a subsidiary.
A Hansol Technics official said, "This investment is a decision for a strategic expansion into the semiconductor sector, which has high future growth potential," and added, "We will establish a foundation for sustainable growth by advancing our business portfolio."