Hanwha Systems to launch $1.1 bn rights issue in June Two other Hanwha units as top shareholders to apply for extra issues Jin-seong Kim 2 HOURS AGO Hanwha Systems' Butterfly, a personal air vehicle under development with Overair, a US air taxi startup Hanwha Systems Co., which leads the satellite communication and urban air mobility (UAM) businesses of South Korea's Hanwha Group, is set to launch a rights offering next month to raise around 1.2 trillion won ($1.1 billion) as the company is looking for new M&A targets and boosting R&D spending. On May 31, the Hanwha Group unit will price its new 78.7 million shares that amount to 71.3% of its current outstanding shares. The estimated issuance price of 15,800 won apiece is 13% below the current market price.