Hanwha Aerospace said on the 8th that it increased its equity in Korea Aerospace Industries (KAI) to 12.44%.
According to the Financial Supervisory Service's electronic disclosure system that day, Hanwha Aerospace disclosed that its KAI equity holding rose to 12.44% (12,127,000 shares) from 11.21% (10,936,023 shares). The additional shares acquired this time total 1,196,377.
By affiliate, Hanwha Aerospace held 9,652,845 shares (9.90%), Hanwha Systems held 1,487,530 shares (1.53%), and Hanwha Aerospace USA Corporation held 986,625 shares (1.01%).
Hanwha Aerospace secured KAI equity on the market from the 1st to the 8th. It additionally bought 210,000 shares on the 1st and 2nd, 220,000 on the 3rd, 210,000 on the 6th, 225,377 on the 7th, and 121,000 on the 8th, securing a total of 1,196,377 shares. About 186.6 billion won of its own funds were invested in this purchase.
This effectively completes the equity expansion plan released in June. Through that day, about 499.87 billion won was invested to secure equity. Previously, Hanwha Aerospace had said it would make additional purchases of about 500 billion won to raise the group's equity ratio to above 12%.
However, with Hanwha Systems announcing an additional KAI equity purchase plan that day, Hanwha Group's KAI equity is expected to increase further. Hanwha Systems disclosed that, with a limit of 500 billion won, it plans to secure up to 4.73% in KAI over the next six months through on-market purchases.
If KAI equity is acquired as targeted, Hanwha Group's KAI equity holdings would increase by 3.2 percentage points, securing above 15%.
A Hanwha Systems representative said, "We only set a limit; it is not certain whether we will use the full amount for the investment," adding, "Considering synergies in the aviation and space sectors, Hanwha Systems made its own judgment, and the decision was made through a separate board meeting. There is plenty of room to collaborate with KAI."