Hanwha Solutions is speeding up measures to fill a funding gap after cutting the size of its rights offering. The company said on Wednesday it issued 300 billion won worth of redeemable convertible preferred shares through its Qcells unit’s U.S. EPC business entity. It also recently securitised $220.3 million, or about 340 billion won, of advanced manufacturing production tax credits for 2025 and 2026, early-monetising the full amount received for 2025.

SKC said on May 18 its 1.17 trillion won rights offering drew strong demand, with an existing shareholders’ subscription rate of 113 percent and an employee share plan rate of 131.4 percent. It said expectations for earnings improvement and a shift toward semiconductors supported demand. SKC will allocate 589.6 billion won to Absolics, its glass substrate investment unit, and use 577.5 billion won to repay borrowings. It expects its debt ratio to fall to about 129 percent.