South Korea watchdog orders Hanwha Aerospace to resubmit share issue plan (updated)

Hanwha Aerospace

17/04/2025 03:49

Adds FSS in paragraph 2, background in paragraphs 3-5

SEOUL, April 17 (Reuters) - South Korea's financial watchdog ordered on Thursday Hanwha Aerospace 012450.KS to submit another revision to its share issue plan, pushing back on the capital raising plans of the country's largest defence contractor for a second time.

        The Financial Supervisory Service said in a stock exchange regulatory notice that Hanwha's filing last week contained elements that could potentially cause significant investor misunderstanding or hinder investment decisions. The watchdog ordered a refiling within three months.

On April 8, Hanwha filed a
revised plan
 of its fundraising, cutting the amount to 2.3 trillion won ($1.62 billion) after investor and regulatory pushback.

Hanwha had earlier announced an equity capital increase worth 3.6 trillion won that it said was intended to build up overseas and domestic production to meet growing international orders.

The financial regulator subsequently ordered a revision of the plan saying the company needed to
better explain
 how the equity issue plan fitted with a broader plan to restructure the company.

($1 = 1,420.9000 won)

 (Reporting by Jack Kim
Editing by Ed Davies)

 ((jack.kim@thomsonreuters.com; +822 6936 1455;))