Hanwha Solutions Temporarily Postpones Rights Offering Schedule Following FSS Rejection

Hanwha Solutions announced on the 15th that it will participate in the world's largest wire and cable exhibition, 'WIRE 2026,' held in Düsseldorf, Germany, until the 17th (local time). The photo shows the Hanwha Solutions booth at 'WIRE 2026' in Germany. Photo by The Asia Business Daily.

Hanwha Solutions announced in a disclosure on May 12 that it is temporarily postponing the schedule for its rights offering, which was being pursued to secure investments in new businesses and to repay debt.

On this day, Hanwha Solutions filed an amendment to the securities registration statement submitted in March regarding its decision on the rights offering. All previously announced dates have been changed to "undecided." Procedures such as the record date for new share allocation, previously scheduled for May 14, and the subscription and payment process at the end of June, have also been temporarily postponed.

This decision came after, on May 11, Hwang Sun-oh, Deputy Governor of the Financial Supervisory Service, made public the reasons behind two separate requests for amendments directed at Hanwha Solutions.

Deputy Governor Hwang stated, "I requested corrections because I was concerned the company had not sufficiently clarified whether there truly are no other ways to raise funds besides the rights offering, and what the specific grounds are for the company's optimistic outlook on future performance."

In March, Hanwha Solutions announced a capital increase of 2.4 trillion won, stating that 60% of the proceeds would be used for debt repayment, which triggered backlash from shareholders.

In response to the Financial Supervisory Service's request to amend the rights offering registration statement, Hanwha Solutions reduced the offering size to 1.8 trillion won through a board resolution. However, the Financial Supervisory Service again rejected the revised plan.

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