While reviewing the scale of the paid-in capital increase for Hanwha Aerospace and considering the third-party allocation, there have been consecutive positive reviews in the securities market.

An Byeong-cheol, President of Hanwha Aerospace, is announcing his stance on the recent paid-in capital increase at the 'Hanwha Aerospace Future Vision Briefing' held at Hanwha Group headquarters on the morning of Nov. 8./Courtesy of News1

DAOL Investment & Securities changed its investment opinion on Hanwha Aerospace from 'hold' to 'buy' on the 9th, raising the target price from 700,000 won to 900,000 won, an increase of 28.6%. The previous day's closing price for Hanwha Aerospace was 698,000 won.

On the same day, Kiwoom Securities (from 810,000 won to 860,000 won) and Shinhan Investment & Securities (from 600,000 won to 800,000 won) also adjusted their target prices upwards.

Hanwha Aerospace's adjustment of the method for the paid-in capital increase to reduce the burden on existing shareholders has received a positive assessment.

Hanwha Aerospace announced the day before that it will reduce the scale of its paid-in capital increase from the existing 3.6 trillion won to 2.3 trillion won. In addition, it stated that it is considering raising the reduced 1.3 trillion won through a third-party allocation paid-in capital increase, with Hanwha Energy, Hanwha Impact Partners, and Hanwha Energy Singapore as potential participants.

Lee Jae-kwang, a researcher at NH Investment & Securities, said, "(The reduction of the paid-in capital increase scale) has resulted in a decrease in the number of new shares allocated to existing shareholders from 0.105 shares to 0.075 shares, a reduction of 28.3%. Considering that the planned issuance price for new shares has dropped by 10.9% from 605,000 won to 539,000 won due to the drop in stock price, the burden from the capital increase has been eased."

The third-party allocation is also receiving positive evaluations. Lee Han-gyeol, a researcher at Kiwoom Securities, explained, "In the third-party allocation, a discount rate of 15% applied to the existing shareholder allocation does not apply, and there is a one-year selling restriction, making it a more shareholder-friendly option compared to the previous capital increase structure."

Choi Gwang-sik, a researcher at DAOL Investment & Securities, also remarked that "the absence of discounts on the third-party allocation for Hanwha Energy and Impact is positive," adding, "The 'strength of Hanwha' is an investment in the growth of Hanwha Aerospace."