(Photo = Hanwha Galleria)

 

[Alpha Biz= Reporter Kim Sangjin] Kim Dong-seon, Vice President of Hanwha Galleria and the third son of Hanwha Group Chairman Kim Seung-yeon, is set to launch a tender offer for a 17.54% stake (34 million shares) in Hanwha Galleria.

According to investment banking sources on August 22, Kim will conduct the tender offer from August 23 to September 11, targeting 34 million common shares of Hanwha Galleria. The offer price is set at 1,600 won per share, a 23% premium over the closing price of 1,303 won on August 22. 

 

If the tender offer is successful, Kim's stake in Hanwha Galleria will increase from the current 2.32% to 19.86%, making him the second-largest shareholder after Hanwha Co., which holds a 36.31% stake. 

 

The tender offer will involve an investment of approximately 54.4 billion won, financed through personal funds and stock collateral loans.

 

 

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