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According to the Financial Supervisory Service's electronic disclosure system on June 5th, Hanwha Solutions announced through its securities declaration on May 31st that "as of the date of submission of the securities declaration, the sale of the remaining shares of Nikola has been completed. There are no additional risks associated with equity investments."
In November 2018, Hanwha Energy and Hanwha Impact invested a total of $100 million in Nikola, securing a 6% stake. The purchase price per share was $4.50.
At that time, Hanwha was trying to lay the groundwork for entering the US hydrogen ecosystem market with its investment in Nikola. In fact, while making an equity investment in Nikola, it is said that it has secured the operating rights for the construction of a hydrogen charging station in the United States.
However, in September 2020, stocks plummeted after reports emerged claiming Nikola's hydrogen technology was a hoax, prompting the U.S. Securities and Exchange Commission (SEC) and legal department to launch an investigation. In the end, Nikola founder Trevor Milton was convicted of fraud in New York Manhattan federal court last October. Nikola's stock recently held below $1 and even received a delisting warning from the Nasdaq.
The market capitalization, which had reached $30 billion at one point, has shrunk to the $200 million level as of the last two days. As of the 2nd, Nikola's stock price fell to $0.586.
Hanwha has been selling Nikola's stake since June 2021. Hanwha said, "We have recovered the $100 million investment," adding, "There are no major changes to our existing collaboration plan, and we are currently working on hydrogen projects such as hydrogen co-firing power generation."
2023/06/07 13:44 KST
