Hanwha Systems IPO on the Korea Exchange
Hanwha's defence electronics and IT services arm listed on the KOSPI market; Hanwha Aerospace kept 49% and the financial investor Helios S&C cut its stake from 32.6% to 7.8%.
- Company
- Hanwha Systems
- Type
- IPO
- Status
- Completed
- Date
- 13 Nov 2019
- Value
- KRW 402.55bn
- US$ equivalent
- US$345m
- Value basis
- KRW 402.6bn at KRW 12,250 a share: 8,163,265 new shares (KRW 100bn) and 24,698,159 existing shares sold by Helios S&C (KRW 302.6bn)
- Region
- South Korea
- Segment
- Listed equity
Parties
- Hanwha Systems issuer
- Helios S&C selling shareholder
- Hanwha Aerospace investor
Key terms
- Offer price
- KRW 12,250 a share
- Subscription and payment
- 4-5 Nov 2019; paid 7 Nov 2019
- Underwriters
- Korea Investment & Securities, NH Investment & Securities and Citigroup Global Markets Korea (joint leads), with Hanwha Investment & Securities, SK Securities, Daishin and Shinyoung
- Use of new money
- KRW 68bn capex and KRW 30bn working capital
Sources
- Hanwha Systems final terms registration statement (DART) dart.fss.or.kr · 1 Nov 2019
- Hanwha Systems securities issuance results report (DART) dart.fss.or.kr · 8 Nov 2019
Record DEF-INV-2019-0012. Investments are kept apart from the financings register and never counted in debt totals.
