Kim Dong-sun to launch 128.5 billion KRW tender offer for Hanwha M&S

Kim Dong-sun, President of Future Strategy at Hanwha M&S, has announced a tender offer to acquire a 19% stake in the company. The move involves investing up to 128.48 billion KRW to purchase up to 16.06 million common shares at 8,000 KRW per share.

If the tender offer is successful, Kim's stake will increase from 5.81% to 24.81%, making him the largest single shareholder, surpassing the current largest shareholder, Hanwha Energy, which holds 23.94%. Combined with related parties, his stake would rise to 79.32%.

The offer price represents a premium of approximately 31.58% over the closing price on the previous trading day. Hanwha M&S stated that the acquisition aims to enhance shareholder value and strengthen responsible management. The company noted that the move reflects Kim's confidence in the growth potential of the tech and life solution sectors and addresses shareholder concerns regarding recent stock price fluctuations.