South Korea’s financial regulator has once again directed **Hanwha Solutions** to revise its proposed share sale plan, citing significant shortcomings in its disclosures, the company confirmed on Friday. This marks a repeated intervention from the **Financial Supervisory Service (FSS)** regarding the energy solutions provider’s capital raise efforts.
The **Financial Supervisory Service** initially requested a similar revision on April 9 concerning **Hanwha Solutions**’ ambitious strategy to secure 2.4 trillion won (approximately $1.6 billion) through a new share issuance. Following this, the company scaled down its planned share offering to 1.8 trillion won in its subsequent revised submission.
However, the **FSS** stated that even this amended securities registration statement failed to meet the necessary formal requirements. It highlighted the presence of unclear or missing critical information, which could severely hinder investors’ ability to make well-informed decisions regarding the offering.
Consequently, the filing has been rejected, and its effectiveness has been formally suspended by the regulatory body, indicating a continued pause in **Hanwha Solutions**’ capital-raising initiatives.
**Hanwha Solutions**, a key energy solutions provider within the diverse Hanwha Group conglomerate—spanning chemicals to shipbuilding—underscored its commitment to addressing the regulator’s concerns. The company affirmed its intention to submit a thoroughly revised filing, incorporating feedback received from both shareholders and media outlets.
The large-scale **rights offering**, initially unveiled on March 26, was primarily intended for debt repayment. However, the announcement has faced considerable scrutiny, drawing criticism regarding the company’s decision-making processes and the precise objectives behind this substantial capital increase.
