Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Ocean’s 100%-owned subsidiary, Hanwha Ocean USA Holdings Corp., decided to participate in a rights issue (cash acquisition) worth approximately KRW 185.7B (USD 135M) for U.S.-based affiliate Hanwha Ocean USA International LLC to secure investment capital.
📊 [Key Disclosure Contents & Major Figures Summary]
- Disclosure Type: Decision on Acquisition of Shares and Equity Securities of Other Corporation (Major Management Matters of Subsidiary)
- Reporting Entity: Subsidiary Hanwha Ocean USA Holdings Corp.
- Issuing Company Details:
- Company Name: Hanwha Ocean USA International LLC
- Nationality / CEO: U.S. / Doo-Hyung Ryu
- Relationship with Company: Affiliate (scheduled to become a subsidiary of Hanwha Ocean after acquisition)
- Primary Business: Maritime Service
- Acquisition Details & Amount:
- Acquisition Amount: KRW 185,746,500,000 (KRW 185.7B / USD 135,000,000)
- Acquisition Method: Participation in Rights Issue (Cash Acquisition)
- Purpose of Acquisition: Participation in rights issue to secure investment capital
- Expected Acquisition Date: 2024-12-31
- Board Resolution Date: 2024-04-19 (Approval date by the subsidiary’s Board of Directors)
[Other Key Information]
- This transaction is an equity investment decision made by Hanwha Ocean USA Holdings Corp., a 100%-owned subsidiary of Hanwha Ocean.
- The acquisition amount is converted to KRW using the exchange rate on the Board Resolution Date (April 19, 2024: USD 1 = KRW 1,375.90) and may fluctuate based on FX rates at the actual time of payment.
- The expected acquisition date (December 31, 2024) is the scheduled final completion date, and capital contributions will proceed according to business progress.
- Financial statements and total asset entries for both the issuer (Hanwha Ocean USA International LLC) and the subsidiary (Hanwha Ocean USA Holdings Corp.) were omitted as both were established in 2023.
- Controlling company (Hanwha Ocean) consolidated total assets stand at KRW 13.94T (KRW 13,944,800,000,000, based on FY2023 consolidated financial statements).
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Execution and Completion of Capital Contribution
This disclosure outlines the participation of Hanwha Ocean’s U.S. subsidiary in a rights issue to provide investment capital to a newly established local entity. Verifying whether the planned equity investment is fully executed without disruption by the expected completion date of December 31, 2024, is important for determining whether the transaction has been properly finalized. Progress can be monitored through subsequent regulatory filings or regular periodic reports (Quarterly, Half-Yearly, or Annual Reports).
📢 Disclaimer & Source Information
Source: This content was structured and generated based on official submission data from the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System (DART).
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