Hanwha Chemical launches $400 million GDR sale

Debut offering from the chemicals and solar manufacturer, which plans to use proceeds to pay down debt

Hanwha Chemical launches $400 million GDR sale

South Korea’s Hanwha Chemical has launched roadshows for a 21.4 million global depository receipt GDR sale that could fetch up to $395 million. The group is offering up to 13.2% of its share capital via a primary share deal, with one GDR unit equal to one share.

The GDRs will be listed in Singapore, according to a term sheet, with the issuer subject to a 90-day lock-up. Pricing is expected on April 23 under...

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