Hanwha Solutions scales back rights offering after regulator scrutiny, shareholder backlash

Hanwha Solutions has scaled back its planned rights offering from 2.4 trillion won to 1.8 trillion won ($1.6 billion to $1.2 billion), after facing scrutiny from South Korea’s financial regulator, the company said Friday. The energy affiliate of Hanwha Group said in a regulatory filing that it submitted an amended securities registration statement reflecting the reduced fundraising plan. Under the revised plan, Hanwha Solutions will issue 56 million new shares, down from the previously proposed

By The Korea Herald