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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Hanwha Aerospace and its affiliates have increased their combined stake in Korea Aerospace Industries (KAI) to 9.04%, strengthening the group’s position as the company’s second-largest shareholder.
In a regulatory filing on June 16, Hanwha Aerospace disclosed that it had acquired a 6.50% stake in KAI. In addition, Hanwha Systems purchased additional shares worth 125 billion won, raising its stake to 1.53%.
Including a 1.01% stake held by Hanwha Aerospace USA (HAUSA), the Hanwha Group’s total ownership in KAI now stands at 9.04%, second only to the Export-Import Bank of Korea, which holds a 26.41% stake.
Hanwha Aerospace also approved a plan at its board meeting to invest an additional 500 billion won by year-end to increase its stake to 9.97%. If completed, Hanwha Group’s total ownership in KAI is expected to exceed 12%.
Notably, Hanwha has revised its stated purpose of holding KAI shares from “simple investment” to “participation in management.” The company said it may engage in KAI’s decision-making processes as a shareholder, following appropriate legal procedures and considering the interests of the company, its shareholders, and other stakeholders.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
