Hanwha Systems Monetizes Entire Hanwha Ocean Stake, "Secures KRW 1.4 Trillion for Investment"
"Investing in future growth businesses"
Hanwha Systems disclosed on October 16 that it would monetize its entire stake in Hanwha Ocean to raise approximately KRW 1.4 trillion.
At a board meeting held that day, Hanwha Systems decided to transfer 22,169,660 common shares, representing a 7.24% stake in Hanwha Ocean, through a price return swap (PRS). The transfer is scheduled for October 19, with Kiwoom Securities and others participating as counterparties.
The total transfer value is KRW 1.3834 trillion, calculated based on Hanwha Ocean's closing price of KRW 62,400 on October 15, the day before the board meeting.
Hanwha Systems said it plans to invest the funds secured through this asset monetization in future growth businesses, including satellites and defense artificial intelligence (AI), to strengthen its business competitiveness over the medium to long term.
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In March, Hanwha Systems previously monetized approximately 4.33% of its stake in Hanwha Ocean through a PRS. At the time, it transferred the shares to a special purpose company (SPC) established by Mirae Asset Securities, Korea Investment & Securities, NH Investment & Securities, and Daishin Securities.
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