Kiwoom Securities has decided to acquire approximately 509.2 billion won worth of Hanwha Ocean shares. Once the acquisition is completed, Kiwoom Securities' stake in Hanwha Ocean will reach 2.73%.

In a regulatory filing on the 16th, Kiwoom Securities announced that it had decided to acquire 8,160,853 shares of Hanwha Ocean. The acquisition amount of 509,237,227,200 won equals 7.58% of the company's equity capital and 0.63% of its total assets at the end of the most recent fiscal year.

The acquisition follows an internal investment decision. The transaction will be carried out through a block off-hour bulk trade, with the acquisition scheduled for October 21. Upon completion, Kiwoom Securities' holdings of Hanwha Ocean shares will increase to 8,359,670 shares.

Acquisition Under PRS Contract, Reference Price 62,400 Won Per Share

Kiwoom Securities stated that it will acquire the shares under a Price Return Swap (PRS) contract. The underlying asset is 8,160,853 common shares of Hanwha Ocean, with a reference price of 62,400 won per share. This was calculated based on the closing price on the Korea Exchange's regular market on October 15, the trading day immediately preceding the contract date. The contract period is one year.

Through the share acquisition, Kiwoom Securities will hold economic rights attached to the shares, including voting rights and dividend rights. However, gains and losses from share price fluctuations will be settled with the counterparty according to the conditions stipulated in the PRS contract.

No Obligation to Hold Until Maturity, Acquired Shares May Be Disposed Of

Kiwoom Securities is not obligated to hold the underlying asset until maturity during the contract period, and may dispose of all or part of its holdings in accordance with the contract terms.

The company explained that if share price fluctuations or other factors make a block off-hour bulk trade impossible, the transaction may be switched to an over-the-counter method. If any changes arise related to the contract, the company plans to file a corrective disclosure.