South Korea's Financial Supervisory Service ordered Hanwha Aerospace (KRX:012450) to resubmit its revised 2.3 trillion-won share sale plan, citing insufficient details on shareholder communication and fund usage, Yonhap News reported Thursday.
The order follows backlash over the company's original 3.6 trillion-won stock offering, the largest ever by a domestic company. The updated plan involves issuing new shares to three Hanwha Group affiliates--Hanwha Energy, Hanwha Impact Partners, and Hanwha Energy Corporation Singapore, the report said.
Shares of Hanwha Aerospace rose more than 3% in recent trade on Friday.
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