Korea’s financial regulator on Thursday ordered Hanwha Solutions to submit a revised filing over its plan to issue 2.4 trillion won ($1.6 billion) worth of shares, citing insufficient information. The Financial Supervisory Service said in a regulatory filing that the company’s securities registration statement failed to meet formal requirements or contained unclear or missing information on key matters. As a result, the filing has not been accepted, and its effectiveness has been suspended. If Hanwha Solutions fails to submit a revised filing within three months, the registration will be deemed withdrawn. Hanwha Solutions, the energy solutions arm of chemicals-to-shipbuilding conglomerate Hanwha Group, said it will take the regulator’s order seriously and prepare a revised filing that reflects feedback from shareholders and the media. The company announced the large-scale rights offering plan on March 26 to repay debt, drawing criticism over the decision-making process and the purpose of the capital increase. Hanwha Solutions said the move was necessary to improve its financial structure
