[Edaily Reporter Kwon Oh Seok ] #Hanwha Machinery & Service Holdings (Hanwha M&S) shares are surging during today’s trading session. It appears that buying interest is surging following news that Kim Dong-seon, Executive Vice President in charge of Future Strategy, is planning a tender offer worth approximately 128.5 billion won.

According to MP Doctor on the 12th, as of 10:00 a.m. today, Hanwha M&S shares are trading at 7,490 won, up 1,410 won (23.19%) from the previous trading day.
Earlier that day, Executive Vice President Kim announced a tender offer for up to 16.06 million shares of Hanwha M&S common stock at 8,000 won per share. This price is 31.58% higher than the closing price (6,080 won) on the previous trading day, the 8th. The tender offer period runs from today through November 2, and the settlement date is November 4. The total purchase amount is up to 128.48 billion won.
If the tender offer is completed as scheduled, President Kim’s stake will rise from the current 5.81% to 24.81%. The stake held by related parties, including President Kim, will also increase from 60.32% to 79.32%. President Kim will secure the largest single-shareholder stake, surpassing Hanwha Energy (23.94%), the current largest shareholder.
President Kim explained that the purpose of this tender offer is to strengthen his effective control and expand responsible management. He stated, “We decided to proceed with the tender offer to strengthen our effective control by securing the position of the largest shareholder and to fulfill our responsibility for Daesang’s mid- to long-term growth and performance.”