Shares of Hanmi Financial Corp. fell 16 percent on Monday after the bank holding company said it had commenced a public offering of about $75 million worth of common stock to help boost its capital levels and pay for growth initiatives.

The Koreatown parent of Hanmi Bank, which has a market cap of about $133 million, last week terminated an agreement that would have enabled South Korea’s Woori Finance Holdings Co. Ltd. to take a majority stake. Woori in May 2010 had agreed to purchase up to $240 million of Hanmi’s stock, but banking regulators in both countries dragged their feet on approving the deal.

Hanmi Financial plans to contribute a substantial portion of net proceeds from the offering to build capital reserves and fund acquisitions and other growth efforts. The bank has 32 offices statewide, including 27 offices in Los Angeles County.

FBR Capital Markets & Co. is the sole book-running manager for the offering. Hanmi expects to grant the underwriter a 30-day option to buy up to $11.2 million worth of shares to cover any over-allotments.

Hanmi Bank, which was hurt by loan losses due to the real estate downturn, last June raised more than $120 million from existing and new shareholders in two private placements that enabled it to return to “well capitalized” status. However, the bank has been seeking additional capital.

Hanmi and Woori have said that they still plan to enter into a business alliance that would provide their customers with improved international services between the two countries.

Shares closed down 17 cents, or 16 percent, to 88 cents on the Nasdaq.