Hanwha Systems KRW 1.16tn rights offering
Hanwha Systems raised KRW 1.16tn from shareholders, with the public taking up any unsubscribed shares, to invest in satellite communications and urban air mobility.
- Company
- Hanwha Systems
- Type
- Equity raise
- Status
- Completed
- Date
- 11 Jun 2021
- Value
- KRW 1,160.66bn
- US$ equivalent
- US$1.0bn
- Value basis
- 78,689,000 new shares at KRW 14,750, raising KRW 1.16tn; Hanwha Aerospace took up KRW 574bn
- Region
- South Korea
- Segment
- Listed equity
Also covered on InfraDefence.
Parties
- Hanwha Systems issuer
- Hanwha Aerospace investor
Key terms
- Price
- KRW 14,750 a share
- Structure
- Rights offering to shareholders, with a public offering of any unsubscribed shares; standby underwriting by Daishin and Korea Investment & Securities (joint leads), Mirae Asset, NH and KB
- Use of proceeds
- KRW 700bn to acquire stakes (satellite communications and air mobility), KRW 390bn working capital, KRW 70.7bn capex
- Hanwha Aerospace stake after
- 46.73%
Sources
- Hanwha Systems final terms registration statement (DART) dart.fss.or.kr · 1 Jun 2021
- Hanwha Systems securities issuance results report (DART) dart.fss.or.kr · 11 Jun 2021
- Hanwha Aerospace disclosure: acquisition of Hanwha Systems shares in the rights offering (DART) dart.fss.or.kr · 30 Mar 2021
Record ORB-INV-2021-0035. Investments are kept apart from the financings register and never counted in debt totals.
