Hanwha Essential Co., Ltd. announced a private placement of 6,723,332 common shares at a price of KRW 30,000 per share for gross proceeds of KRW 201,699,960,000 on December 19, 2023. The transaction will include participation from returning investor Hanwha Solutions Corporation to retain its 100% stake in the company. The transaction has been approved by the board of directors of the investor.

The company will issue the shares through shareholder allocation paid-in capital increase method. The transaction is expected to close on February 1, 2024. on same date, the company will receive KRW 85,700,000,000, and may change depending on the progress.