[Edaily Reporter Kwon Oh Seok ] Hanwha Group’s third son, Kim Dong-seon, President of Future Strategy at #Hanwha Machinery & Service Holdings (hereinafter Hanwha M&S), has secured the position of largest shareholder and has decided to make a surprise move to purchase additional shares, causing Hanwha M&S’s stock price to surge.

According to MP Doctor on the 9th, as of 9:26 a.m., Hanwha M&S shares were trading at 7,650 won, up 9.29% from the previous trading day.
Earlier today, according to the Financial Supervisory Service’s electronic disclosure system, President Kim announced that he will conduct a second tender offer for 3.38 million shares of Hanwha M&S common stock (approximately a 4% stake) from today through the 30th of this month. The purchase price is 8,000 won per share—the same as in the first tender offer—and the total purchase amount is approximately 27.04 billion won.
Since the first tender offer failed to fully meet the target volume, the plan is to inject an additional 27 billion won of personal funds to raise his controlling stake to the 37% range and accelerate responsible management.
Through the first public tender offer, which ran from the 12th of last month to the 2nd of this month, President Kim acquired 22,975,541 common shares, surpassing Hanwha Energy (23.94%)—the previous largest shareholder—to become the largest shareholder (32.99%). Although he fell slightly short of his initial target (26,203,000 shares), given the positive market response, it appears he has decided to immediately launch a second tender offer to acquire the remaining shares. If this second tender offer is successfully completed, President Kim’s stake in Hanwha M&S will rise to 36.99%.