Hanwha Systems to Sell 22.17 Million Hanwha Ocean Shares for KRW1.383 Trillion
MT Newswires Live
Oct 19
Hanwha Aerospace's (KRX:012450) unit Hanwha Systems (KRX:272210) has decided to dispose of 22.2 million shares of affiliate Hanwha Ocean (KRX:042660) for a total of 1.383 trillion won, effective on Oct. 19.
The purpose of the disposal is to secure liquidity and strategic investment resources, and the price was calculated based on the Korea Exchange closing price on the day before.
In connection with the transferred shares, Hanwha Systems has entered into a one-year price return swap (PRS) contract with the buyer, with the underlying asset being the 22.2 million Hanwha Ocean shares, a base price of 62,400 won.
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