Hanwha Aerospace has secured a 9.04% stake in Korea Aerospace Industries (KAI), accelerating its acquisition by more than six months from the original plan.
On June 16, Hanwha Aerospace announced in a regulatory filing that it acquired 3,024,048 shares of KAI for approximately 499.9 billion won.
Following the acquisition, Hanwha Aerospace's total shares in KAI increased from 6,269,319 to 6,334,788, raising its ownership percentage from 6.43% to 6.50%.
Hanwha Systems also purchased additional KAI shares for 125 billion won, increasing its stake to 1.53%.
With this acquisition, Hanwha Group now holds a total of 9.04% of KAI, including the 1.01% stake held by Hanwha Aerospace USA (HAUSA), making it the second-largest shareholder after the Export-Import Bank of Korea, which holds 26.41%.
Previously, Hanwha Aerospace had indicated that its purpose for holding KAI shares had shifted from 'simple investment' to 'management participation.'
A Hanwha Aerospace official stated, "If there is a need to participate in KAI's decision-making process, we will review related matters in accordance with legal procedures and methods to align with the company's management objectives. We aim to strengthen business collaboration through this stock acquisition."
* This article has been translated by AI.
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