Hanwha Solutions to raise 70 bln won via stock offering

Hanwha Solutions-capital increase

Hanwha Solutions to raise 70 bln won via stock offering

SEOUL, Oct. 28 (Yonhap) -- Hanwha Solutions Corp.on Friday announced that it will sell stock to raise 70 billion won (US$49.2 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue some 2 million preferred shares at a price of 34,450 won per share. The stock will be sold to the firm’s shareholders.

(END)

(C) Yonhap News Agency. All Rights Reserved