SEOUL (Reuters) – Hanwha Aerospace said on Friday it planned to raise 1.3 trillion won ($912.95 million) through a new share issue to fund the development of products including drones.
Three affiliates of the Hanwha Group, the company’s parent, will purchase the new shares at 758,000 won per share, the company said in a regulatory filing.
Some of the funds will be spent on developing unmanned aerial vehicles and engines, the country’s top defence contractor added.
The South Korean company said it also plans a separate rights offering for existing shareholders totalling 2.3 trillion won.
($1 = 1,423.9500 won)
(Reporting by Ju-min Park; Editing by Christian Schmollinger and Kate Mayberry)
