Hyungji I&C also falls after capital increase… Stock price plummets
Hanwha Aero, announces record capital increase
Fell 13%, recovers to 4% range,
On the 21st in a screen of Yonhap Infomax in Jongno-gu, Seoul, the stock prices of Hanwha and Hanwha Aerospace are displayed following Hanwha Aerospace’s large-scale capital increase decision. Yonhap News,
, ‘[Seoul Economy] ‘,
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, ‘The stock prices of ‘, Coreline Soft (384470), ‘ and ‘, Hyungji I&C (011080), ” which unexpectedly carried out capital increases, are plummeting by more than 20%. Meanwhile, “, Hanwha Aerospace (012450), ‘, which was previously in hot water for its “record-breaking capital increase issue”, is currently up by about 4%, although it still has a long way to go to recover the loss.’,
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, ‘As of 9:37 AM on the 24th, according to the Korea Exchange, Coreline Soft’s stock is trading at 6,320 won, down 24.85%. Coreline Soft announced at the end of trading on the 21st that it would proceed with a 31.1 billion won shareholder-allotted capital increase followed by a public offering.’,
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, ‘At the same time, Hyungji I&C’s stock is trading at 839 won, down 20.40%. Hyungji I&C also announced on the 21st that it would carry out a shareholder-allotted capital increase worth 20.064 billion won. Hyungji I&C’s market capitalization is approximately 33.2 billion won.’,
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, “Following its announcement last week of a record-breaking 3.6 trillion won capital increase on the domestic market, Hanwha Aerospace’s stock fell by 13%, but is currently trading at 657,000 won, up 4.62%. Hanwha Aerospace announced the capital increase on the 20th of this month, stating the need to secure proactive investments to become a ‘top-tier’ company in the global defense market.”,
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, ‘As controversy grew, Hanwha Aerospace revealed that Vice Chairman Kim Dong-kwan intends to purchase about 3 billion won worth of Hanwha Aerospace shares in a bid to calm the situation. Additionally, Son Jae-il, the CEO of the business division, and Ahn Byung-chul, the president of the strategy division, are also planning to purchase about 900 million won and 800 million won worth of shares, respectively, separate from employee stock ownership.’,
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, ‘LS Securities analyst Choi Jeong-hwan mentioned in a report that “although the investment was necessary, it’s disappointing that Hanwha Aerospace opted for capital increase funding instead of utilizing internal cash flow, liquidating current assets, or issuing bonds.”’,
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