Seoul: Hanwha Solutions Corp., the energy solutions division of Hanwha Group, announced plans to sell stock in order to raise 2.39 trillion won (US$1.6 billion). The company intends to use the proceeds from the stock sale primarily for debt repayment.

According to Yonhap News Agency, a regulatory filing revealed that Hanwha Solutions will issue 72 million common shares at a price of 33,300 won per share. The stock will be offered to the company's existing shareholders.