We can now assume Hanwha Aero’s capital raise will go ahead as the base case and consider trading the window between the amended filing and when the offering becomes effective.
What is covered in the Full Insight:
Introduction of Hanwha Aero's Raise
Hanwha Energy's Equity Swap
Regulatory Background and FSS Involvement
Market Implications of the Rights Offering
Strategic Importance of Korea's Defense Sector
Boomeranged on Tue, 22 Apr 2025 05:41
There’s confusion about Hanwha Aerospace’s rights issue. It’s not legally effective yet, so no pricing or subscription has happened. Claims that a “first round” price was set based on old prices are false. As of now, pricing, ex-rights, and subscription dates are all TBD. Base case for arb: assume a 15% discount to current market price.
SUMMARY
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