Korea Exchange (KRX) finalized an eligible decision in a preliminary review for relisting common shares of Hanwha's tentatively named spin-off entity, "Hanwha Machinery & Service Holdings."
On the 23rd, according to Korea Exchange (KRX), Hanwha plans to conduct a spin-off to newly establish and relist Hanwha Machinery & Service Holdings for the purpose of managing and making new investments in subsidiaries including Hanwha Vision and Hanwha Galleria.
The scheduled establishment date for Hanwha Machinery & Service Holdings is Aug. 1. The scheduled listing date is the 25th of the same month. Last year's consolidation results were calculated as sales of 6.0716 trillion won and operating profit of 170.2 billion won.
Hanwha Machinery & Service Holdings will be led by Hanwha Galleria Vice Chairman Kim Dong-Sun, the youngest son of Chairman Kim Seung-youn.