Hanwha Aerospace Shares Slump on $2.5 Billion Share Sale Plan

Hanwha Aerospace Co., one of Asia’s top-performing stocks this year, plunged after disclosing a plan to raise 3.6 trillion won ($2.5 billion) in what would be South Korea’s biggest share sale in more than three years.

Shares of the South Korean weapons and rocket maker fell as much as 16% in Seoul on Friday, the most since March 2020. Hanwha Aerospace plans to issue almost 6 million shares at 605,000 won apiece, it said in a statement. That’s 16% below the stock’s close on Thursday.

Known for its ability to deliver weapons faster and cheaper than rivals, Hanwha Aerospace ...