Hanwha Energy Launches Tender Offer for Hanwha Corporation Shares

Hanwha Energy has initiated a tender offer for up to 6 million common shares of Hanwha Corporation, a move that could significantly alter the company's shareholding structure. The tender offer, which spans from today until July 24, aims to strengthen responsible management practices. However, some industry analysts view this move as a strategic step in Hanwha Group's succession planning.

The tender offer price has been set at 30,000 won per share, representing a 7.17% premium over the closing price on July 4. If successful, Hanwha Energy's stake in Hanwha Corporation would increase from 9.7% to 17.1%, making it the second-largest shareholder after Chairman Kim Seung-youn.

Interestingly, Hanwha Energy is wholly owned by Chairman Kim's three sons, potentially solidifying their positions within the group. Additionally, Hanwha plans to delist its old preferred shares, aiming to stabilize the market by purchasing all outstanding shares.