South Korea's Hanwha Aerospace revises capital increase plan
Model military vehicles are displayed at a booth for Hanwha Aerospace during the 2023 Seoul International Aerospace and Defense Exhibition (ADEX) in Seongnam, South Korea, Oct 16, 2023. (Photo: REUTERS/Josh Smith)
SEOUL: South Korea's largest defence firm Hanwha Aerospace said in a regulatory filing on Wednesday (May 21) it is revising a previously announced capital increase plan.
The new plan is worth 2.9 trillion won (US$2.09 billion), up from its previous plan of 2.3 trillion won, according to the filing.
A Hanwha Aerospace spokesperson said the change reflected a rise in the share price.
Hanwha Aerospace shares traded up 3.7 per cent at 845,000 won in after-hours trading on Wednesday, after closing the session up 4.3 per cent.
In April, the company said it would cut the size of a planned fundraising by a third to 2.3 trillion won to ensure the success of the financing, and after investor and regulatory pushback.
