Hanwha Solutions will dispose of its held shares for the paid-in capital reduction of its affiliate, Hanwha Urban Development. Even after this measure, Hanwha Solutions will maintain its 100% stake in the subsidiary.

According to Hanwha Solutions on the 29th, the transaction will be carried out through an over-the-counter disposal method targeting Hanwha Urban Development. Hanwha Solutions will hand over a total of 3,413,638 shares at 14,501 won per share, with a total disposal amount of 49.5 billion won.

The company explained that this transaction is a procedure for the paid-in capital reduction of Hanwha Urban Development, and the shares will be immediately retired following the capital reduction. Both the scheduled date for the share disposal and the date for receiving the capital reduction proceeds are set for September 2.

Upon completion of the transaction, the number of Hanwha Urban Development shares held by Hanwha Solutions will be reduced to 284,029 shares. However, since the reduction is due to retirement of shares following a paid-in capital reduction, there is no change in the ownership stake.

Finally, the company stated that this transaction may be subject to change in accordance with future procedures and relevant laws and regulations.