Hanwool Semiconductor withdraws planned share sale after prolonged regulatory review
SOXX•Hanwool Semiconductor withdrew its planned follow-on share sale after a prolonged regulatory review; the offering had been reduced to 3.8 million shares with expected proceeds cut to KRW 19.114 billion.
1. Offering withdrawn
Hanwool Semiconductor scrapped its planned follow-on share sale, which included a shareholder allocation and a public offering of any unsubscribed shares. The deal had been resized to 3.8 million common shares from 4.7 million, and expected proceeds had been cut to KRW 19.114 billion from KRW 22.8655 billion. The company cited a prolonged regulatory review and changes in funding timelines, business plans, cash-management conditions and the market environment as reasons for rethinking its financing plan.
