Wärtsilä Hyundai Engine Co., Ltd. announced that it will issue 2,500,000 common shares at an issue price of KRW 10,000 for gross proceeds of KRW 25,000,000,000 on July 27, 2023. The transaction was approved by the board of directors of the company. The transaction includes participation from new investor HD Hyundai Heavy Industries Co.,Ltd. The shares are issued through shareholder allocation increase method.

The share ratio will be 100% after completion of the transaction.