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Kim Dong-sun expands Hanwha M&S tender offer to 31%
Kim Dong-sun, President of Future Strategy at Hanwha Machinery & Service Holdings (Hanwha M&S), has significantly increased the scale of his tender offer for the company's common stock. The target volume has been raised from 16.06 million shares to 26.203 million shares, representing 31% of the total issued common stock, up from the previous 19%.
The decision follows the announcement that Kim's brothers, Vice Chairman Kim Dong-kwan and Vice Chairman Kim Dong-won, intend to participate in the tender offer by subscribing to 6.762 million and 3.381 million shares, respectively. To ensure minority shareholders are not deprived of selling opportunities due to this increased participation by related parties, Kim expanded the total offer volume.
The tender offer price remains at 8,000 KRW per share, with the period running until November 2. The total investment for this expanded offer is estimated at approximately 209.6 billion KRW, funded by 193.6 billion KRW of personal funds and 16 billion KRW in loans. If the offer is completed, Kim's stake in Hanwha M&S is expected to rise from 5.81% to 36.81%.
Hanwha M&S, established through a spin-off in August, serves as a holding company for Hanwha Group's tech and life sectors, overseeing subsidiaries such as Hanwha Vision, Hanwha Robotics, and Hanwha Galleria.
Entities
Hanwha Group · Hanwha M&S · Kim Dong-kwan · Kim Dong-sun · Kim Dong-won
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The purchase price is set at 8,000 KRW per share. socialvalue.kr · biz.heraldcorp.com
- [○ 1 SOURCE] The total investment amount for the tender offer is approximately 209.6 billion KRW. socialvalue.kr
- [● 2 SOURCES] The tender offer target now represents 31% of the total issued common stock. socialvalue.kr · biz.heraldcorp.com
- [● 2 SOURCES] Kim Dong-sun increased the Hanwha M&S tender offer volume from 16.06 million shares to 26.203 million shares. socialvalue.kr · biz.heraldcorp.com
- [● 2 SOURCES] Kim Dong-won intends to subscribe to 3.381 million shares. socialvalue.kr · biz.heraldcorp.com
- [○ 1 SOURCE] Kim Dong-sun's stake is expected to increase to 36.81% if the offer is completed. socialvalue.kr
- [● 2 SOURCES] The tender offer period ends on November 2. socialvalue.kr · biz.heraldcorp.com
- [● 2 SOURCES] Kim Dong-kwan intends to subscribe to 6.762 million shares. socialvalue.kr · biz.heraldcorp.com