[Edaily Reporter Kim Kyung-eun ] Shares of HANWHA SOLUTIONS(009830)rose in early trading on the 4th following news that Kim Dong-kwan, Senior Vice Chairman of Hanwha Group, is participating in a rights offering.
According to MP Doctor, as of 9:14 a.m. today, HANWHA SOLUTIONS is trading at 26,800 won, up 2,000 won (8.06%) from the previous trading day.
The news of Senior Vice Chairman Kim’s participation in the rights offering is seen as having boosted investor sentiment.
HANWHA SOLUTIONS announced the previous day that Senior Vice Chairman Kim acquired 23,153 common shares of HANWHA SOLUTIONS on the 31st of last month, increasing his holdings from 81,400 shares to 104,553 shares. His stake stands at 0.05%.
Hanwha, the largest shareholder of HANWHA SOLUTIONS, now holds a total of 80,357,854 shares following this rights offering. Its stake stands at 35.61%.
HANWHA SOLUTIONS had initially announced last month that it would proceed with a 2.4 trillion won rights offering. However, after the stock price subsequently fell, management expressed its commitment to responsible management.
HANWHA SOLUTIONS plans to use the funds raised to improve its financial structure by repaying debt, invest in “Solar Hub,” its integrated solar production base in the U.S., and develop next-generation solar cells.
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