Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
This filing discloses Hanwha Ocean’s decision to participate in a third-party paid-in capital increase of its Singaporean subsidiary (Hanwha Ocean SG Holdings), converting an existing loan of approximately KRW 236.1B into equity to acquire 227.88M shares.
📊 [Key Disclosure Highlights & Summary]
- Filing Type: Decision on Acquisition of Other Corporation Shares and Investment Securities
- Target Company: Hanwha Ocean SG Holdings Pte. Ltd. (Nationality: Singapore / Representative: Yong In Shin / Core Business: Investment / Relationship: Affiliate)
- Capital Stock: KRW 4,145,692,571 (Applied exchange rate SGD 1 = KRW 1,036.19 as of November 21, 2024)
- Total Shares Issued: 4,000,900 shares
- Acquisition Details:
- Number of Shares Acquired: 227,882,661 shares
- Acquisition Amount: KRW 236,129,734,502 (Debt-to-equity swap of SGD 227,882,661; applied exchange rate SGD 1 = KRW 1,036.19 as of November 21, 2024)
- Total Equity: KRW 4,312,157,120,697 (Based on FY2023 consolidated financial statements)
- Amount-to-Equity Ratio: 5.5%
- Post-Acquisition Ownership Shares & Ratio: 228,282,751 shares (26.7%)
- Acquisition Method: Participation in third-party allocation paid-in capital increase
- Purpose of Acquisition: Debt-to-equity swap of outstanding loan
- Expected Acquisition Date: November 26, 2024 (Payment deadline)
- Acquisition-to-Asset Ratio: 1.7% (Based on FY2023 consolidated assets of KRW 13.945T)
- Board Resolution Date: November 21, 2024 (All 5 Outside Directors present, Auditors present)
- Target Financial Summary: Omitted as the company was newly established in 2024
[Other Material Notes]
- Converts the loan originally disclosed on September 11, 2024, into capital stock via this capital increase.
- Post-acquisition ownership ratio is calculated based on total issued shares of the target following the capital increase.
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Debt-to-Equity Swap Execution and Subsidiary Financial Structure Impact
Through this transaction, Hanwha Ocean converts its short-term loan claim against its affiliate into equity shares, making it essential to monitor whether the capital swap procedure closes as planned following the payment target date (November 26, 2024). Verification is necessary because converting debt to equity alters the subsidiary’s leverage profile while shifting asset classification on Hanwha Ocean’s balance sheet from receivables to equity investments. Relevant completion details can be verified through future regular financial reports (Quarterly, Semi-Annual, or Annual Business Reports) or subsequent official public disclosures.
📢 Disclaimer & Source Notice
Source: This content was newly structured based on official data submitted to the Financial Supervisory Service’s DART system.
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