Lotte Chemical will participate in a rights offering by its joint venture, H&L Advanced, investing 600 billion won. The company announced through a regulatory filing on the 17th that it will acquire 12 million shares, with the acquisition amount equivalent to 3.40% of Lotte Chemical's equity capital.

■ Follow-up measure to Daesan plant business restructuring... aimed at debt repayment and financial structure improvement

This investment is a follow-up implementation of the structural innovation support plan under the Daesan plant business restructuring scheme. It aims to repay existing debts and improve the financial structure of H&L Advanced, a joint venture established through the merger of Lotte Daesan Petrochemical, a physical division entity of Lotte Chemical, and HD Hyundai Chemical.

The rights offering will be conducted through a shareholder allotment method. Shareholders HD Hyundai Oilbank and Lotte Chemical will each subscribe to new shares in proportion to their 50% stakes.

■ 12 million shares to be acquired in cash at 50,000 won per share... stake at 50.0% after acquisition

The price per share for Lotte Chemical is 50,000 won, and it will acquire 12 million shares in cash. Following the acquisition, Lotte Chemical will hold 194.4 million shares in H&L Advanced, representing a 50.0% stake. The scheduled acquisition date is September 28, the expected payment date for the capital.

H&L Advanced is an entity jointly controlled by Lotte Chemical and HD Hyundai Oilbank, and its main business per the filing is the manufacturing of basic petrochemical products.

Meanwhile, this filing is the confirmation of the company's August 24 disclosure titled 'Clarification Regarding Rumors or Reports (Unconfirmed).' Decisions on the specific timing and method of execution and other details have been delegated to the CEO.