Hanwha Group Raises Tender Offer Price fo... > 경제기사 | economics

Photo = Hanwha Investment amp; Securities

[Alpha Biz= Reporter Kim Jisun] On October 14, Hanwha Group announced that it would raise the tender offer price for shares of Singapore-based floating marine equipment manufacturer Dynamac Holdings to 0.67 Singapore dollars per share.
Previously, Hanwha Aerospace and Hanwha Ocean had launched a tender offer through a Singaporean special purpose company SPC on September 11, offering 0.60 Singapore dollars per share for Dynamacs shares.

To ensure a smooth acquisition process and secure management control, Hanwha decided to raise the offer price by an additional 0.07 Singapore dollars just one month after the initial offer, also stating that there will be no further price increases.


The new price represents an 11.7% increase from the initial offer and a 35.4% premium over the closing price of 0.495 Singapore dollars prior to the tender offer announcement.

For the tender offer to succeed, Hanwha needs to acquire more than 50% of Dynamac’s shares and obtain approval from Singapores competition authorities. As of now, Hanwha Aerospace and Hanwha Ocean have invested 115.8 billion won approximately $86.3 million to secure a 24% stake in Dynamac.

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/ 알파경제 Kim Jisun Reporter