Hanwha Solutions' top management will buy treasury shares. As it pursues a 2.4 trillion won paid-in capital increase, the move is intended to show that top management is putting responsible management into practice. The company said it will enhance shareholder value through improving its financial structure and making large-scale investments in next-generation technologies.
On the 27th, Hanwha Solutions said Vice Chair Kim Dong-Kwan, chief executive of the strategy institutional sector, will buy about 3 billion won worth of treasury shares (about 81,500 shares based on the closing price on the 26th).
Nam Jeong-woon, head of the chemical institutional sector, and Park Seung-deok, head of the Qcells institutional sector, also decided to each buy about 600 million won (about 16,000 shares) in treasury shares, separate from employee stock purchases tied to the paid-in capital increase. The purchase amount corresponds to last year's annual salary.
Vice Chair Kim, CEO Nam and CEO Park plan to buy treasury shares in sequence starting on the 30th. Other executives are also expected to voluntarily participate in buying equity.
CEO Nam Jeong-woon said, "Through this paid-in capital increase, Hanwha Solutions will achieve sustainable growth and, furthermore, complete improvements in profitability to repay shareholders by enhancing shareholder value."
Earlier, Hanwha Solutions said it plans to raise about 2.4 trillion won through this paid-in capital increase, allocating 1.5 trillion won to debt repayment and 900 billion won to investments in perovskite tandem and TOPCon.