Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Ocean has disclosed corrections to the number of shares, acquisition amount, and target acquisition date (to January 8, 2025) regarding its participation in a paid-in capital increase to convert loans to its Singaporean affiliate (Hanwha Ocean SG Holdings Pte. Ltd.) into equity.
📊 [Key Disclosure Details & Financial Highlights]
- Correction Classification: Corrected Filing (Report)
- Correction Filing Date: January 8, 2025
- Original Disclosure Document & Date: Decision on Acquisition of Shares or Equity Securities of Other Corporations (November 26, 2024)
- Reason for Correction: Changes in acquisition details (number of shares, acquisition amount, target acquisition date)
- Major Corrected Items:
- Number of Shares to Acquire: 226,789,427 shares → 226,456,256 shares
- Acquisition Amount: KRW 234,996,936,363 → KRW 234,651,707,905 (approx. KRW 234.7B / Converted SGD 226,456,256 loan, applying exchange rate of 1,036.19 KRW/SGD)
- Owned Shares & Equity Ratio Post-Acquisition: 227,189,517 shares (26.8%) → 227,286,346 shares (26.9%)
- Target Acquisition Date: January 27, 2025 → January 8, 2025
- Target Company Information:
- Company Name: Hanwha Ocean SG Holdings Pte. Ltd. (Nationality: Singapore / CEO: Yong-In Shin)
- Relationship: Affiliated Company
- Main Business: Investment Services
- Transaction Details:
- Total Equity: KRW 4,312,157,120,697 (approx. KRW 4.31T, as of FY2023 consolidated financials)
- Acquisition Amount to Total Equity Ratio: 5.4%
- Acquisition Amount to Total Assets Ratio: 1.7% (Based on FY2023 consolidated total assets of KRW 13.94T)
- Method of Acquisition: Participation in Third-Party Allocation Capital Increase
- Purpose of Acquisition: Debt-for-Equity Swap (Conversion of Loan)
- Board Resolution Date: November 21, 2024 (All 5 Outside Directors attended)
- Other Important Notes:
- Capital increase resolution is to execute a debt-for-equity swap for the loan previously disclosed on September 11, 2024
- Target entity is a newly incorporated company in 2024
- Related Disclosures: November 21 and November 26, 2024 (Decision on Acquisition of Shares or Equity Securities of Other Corporations)
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Revisions to Acquisition Details and Debt-for-Equity Swap Execution
This correction disclosure notifies the market of adjustments to the final number of shares, transaction amount, and target completion date for the debt-for-equity swap involving the affiliate’s capital increase. Confirming that the share acquisition and equity percentage adjustments are completed and reflected in the asset structure is essential for tracking the final execution progress of the debt-for-equity transaction. Related details can be verified in 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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