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Industry
Hanwha Solutions sells U.S. venture investment fund for $84.3 million to boost liquidity
Hanwha Solutions said on Wednesday it sold a venture investment fund that invested in U.S. innovative companies for $84.3 million. The company said it will use the proceeds to supplement funds for debt repayment created by the reduction in its rights issue and to bring forward plans to improve its financial structure. It also said it will quickly push ahead with 300 billion won of investor asset monetisation presented during the rights issue revision process.
Industry
LG Energy Solution to pursue 400 billion won corporate bond issue
LG Energy Solution plans to issue 400 billion won of corporate bonds and filed a securities registration statement with the Financial Supervisory Service on Feb. 20. The won-denominated offering, its fourth, includes 2-year, 3-year, 5-year and 10-year tranches. The company will hold demand forecasting for institutional investors on Feb. 24 and may consider increasing the size depending on results. Pricing and the final interest rates will be set after the bookbuilding.
Industry
Court rejects arrest warrants for MBK executives over Homeplus case
The Seoul Central District Court on Jan. 14 rejected prosecutors’ arrest warrant requests for MBK Partners Chairman Michael Kim and three other executives over alleged fraud and capital markets law violations tied to the Homeplus case. The court said the alleged 피해 results were serious but the evidence submitted so far did not sufficiently support detention. It also cited limits of warrant hearings and said defence rights should be protected in a non-custodial investigation.