Kim Dong-seon, the Chief Strategy Officer of Hanwha Machinery & Service Holdings (Hanwha M&S), has completed a tender offer and become the largest shareholder of the company.
According to the Financial Supervisory Service's electronic disclosure system on November 4, Kim acquired 22,975,541 common shares of Hanwha M&S through the tender offer conducted from October 12 to November 2. The purchase price was set at 8,000 won per share, totaling approximately 183.8 billion won.
The planned acquisition involved 26,203,000 shares, representing 31% of the total issued shares, with 87.7% of that amount subscribed. Kim purchased all the subscribed shares.
As a result, Kim's holdings of common shares increased from 4,908,642 to 27,884,183 shares. His ownership stake rose from 5.81% to 32.99%, surpassing Hanwha Energy's 23.95% to become the largest shareholder.
This tender offer was initiated to address ongoing concerns about declining stock prices and the company's future growth potential, while also reinforcing responsible management.
A Hanwha M&S official stated, "With the successful completion of the tender offer, we can effectively address shareholder concerns and enhance responsible management. We will continue to make various efforts to improve corporate and shareholder value and uphold responsible management going forward."
* This article has been translated by AI.
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