Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Ocean has filed a corrected disclosure updating the number of shares to acquire, acquisition amount, and target acquisition date (January 27, 2025) regarding its participation in the capital increase (debt-to-equity swap) of its Singaporean affiliate (Hanwha Ocean SG Holdings Pte. Ltd.).
📊 [Key Disclosure Details & Financial Highlights]
- Correction Classification: Corrected Filing (Report)
- Correction Filing Date: November 25, 2024 (Disclosure Reception Date: November 26, 2024)
- Original Disclosure Document & Date: Decision on Acquisition of Shares or Equity Securities of Other Corporations (November 21, 2024)
- Reason for Correction: Changes in number of shares to acquire, acquisition amount, and target acquisition date
- Major Corrected Items:
- Number of Shares to Acquire: 227,882,661 shares before correction → 226,789,427 shares after correction
- Acquisition Amount: KRW 236,129,734,502 before correction → KRW 234,996,936,363 after correction (approx. KRW 235.0B)
- Acquisition Amount to Total Equity Ratio: 5.5% before correction → 5.4% after correction
- Owned Shares & Equity Ratio Post-Acquisition: 228,282,751 shares (26.7%) before correction → 227,189,517 shares (26.8%) after correction
- Target Acquisition Date: November 26, 2024, before correction → January 27, 2025, after correction (Scheduled payment date)
- Target Company Information:
- Company Name: Hanwha Ocean SG Holdings Pte. Ltd. (Nationality: Singapore / CEO: Yong-In Shin)
- Capital Stock: KRW 4,145,692,571 (Applying exchange rate of KRW 1,036.19/SGD as of Nov 21, 2024)
- Total Issued Shares: 4,000,900 shares
- Relationship: Affiliated Company
- Main Business: Investment Services
- Acquisition Details:
- Method of Acquisition: Participation in capital increase via debt-to-equity conversion
- Purpose of Acquisition: Debt-to-equity swap (Swapping existing loan of SGD 226,789,427 disclosed on September 11, 2024)
- Total Equity: KRW 4,312,157,120,697 (approx. KRW 4.31T, as of FY2023 consolidated financials)
- Acquisition Amount to Total Assets Ratio: 1.7% (Based on FY2023 consolidated total assets of KRW 13.94T)
- Board Resolution Date: November 21, 2024 (All 5 Outside Directors attended, Auditor attended)
- Other Important Notes:
- Converted KRW amounts for acquisition value and capital stock apply the exchange rate as of November 21, 2024 (1 SGD = KRW 1,036.19)
- Post-acquisition equity ratio is calculated based on total issued shares after this capital increase
- Target acquisition date is the scheduled payment date and may change depending on the affiliate’s capital increase schedule
- Target entity was newly incorporated in 2024; summary financial statements are omitted
- Related Disclosure: November 21, 2024 (Decision on Acquisition of Shares or Equity Securities of Other Corporations)
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Debt-to-Equity Swap Terms and Subsequent Filings
This correction disclosure notifies the market that the debt-to-equity swap amount and share count for the Singaporean affiliate were adjusted, and the target acquisition date was changed to January 27, 2025. Verifying that the transaction proceeds under the revised acquisition terms and payment schedule, and tracking whether any subsequent correction filings regarding potential changes to the affiliate’s capital increase timeline are submitted, is essential for monitoring execution progress. Related details can be verified in future correction filings and upcoming official regular filings, including Quarterly, Half-Yearly, and Annual Reports.
📢 Disclaimer & Fact Source
Source: This content was structured and newly written based on officially submitted data from the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System (DART).
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