Hanwha Systems sells final Hanwha Ocean stake for $1.04B
What's the deal? Hanwha SystemsDealroom has a profile for this one. Try Dealroom → is selling its entire remaining stake in shipbuilder Hanwha OceanDealroom has a profile for this one. Try Dealroom → for US$1.16B, with Kiwoom SecuritiesDealroom has a profile for this one. Try Dealroom → among seven buyers. The transfer of 22,169,660 shares — 7.24% of Hanwha Ocean — takes Hanwha Systems' direct holding to 0%.
How it works: The deal runs through after-hours block trading, with the transfer set for the 19th and cash payment on the 21st. The sale amounts to 13.4% of Hanwha Systems' total assets and 27.66% of its equity capital as of the end of last year.
Why now? This is the second disposal this year. In April, Hanwha Systems sold 13,281,250 shares (4.33%) for US$1.43B, meaning the two deals have raised a combined US$2.59B and cleared its full 11.57% stake.
What's the endgame? Hanwha Systems said the aim is to secure liquidity and strategic investment resources. The proceeds will fund growth areas such as satellites and defence artificial intelligence to strengthen mid- to long-term competitiveness.
What could go wrong? Both sales use a one-year price return swap (PRS), a structure that raises cash upfront while settling gains and losses from share-price moves after the fact. The reference price for this contract is US$52.3, Hanwha Ocean's closing price on the 15th, down from US$107.3 in April — and Hanwha Systems could face settlement costs if the stock falls further.
The signal: The exit reflects a reshuffle within the Hanwha group, as Hanwha Systems trades a passive shipbuilding holding for cash to double down on defence technology and space. The PRS structure shows how large holders are monetising stakes while keeping residual exposure to the market.
Read more: en.infomaxai.com
Image credit: amg.lincluden
