Corporate Logo(source: hanwhacorp.co.kr)
Hanwha(000880) shares are seeing strong gains early in the session, fueled by news that the company is renewing its bid to acquire Austal, an Australian shipbuilder and U.S. Navy contractor.
As of 9:19 AM on the 18th, Hanwha's stock is trading at 49,900 won, up 6% from the previous day, marking its third consecutive day of gains. The stock briefly reached 51,400 won in the early trading session.
The driving force behind the stock's upward movement appears to be news of Hanwha’s renewed efforts to acquire Austal. Previously, Hanwha Systems(272210) and Hanwha Aerospace(012450) announced on the previous day that they would invest 202.7 billion won and 64.2 billion won, respectively, into their Australian subsidiary, "HAA No.1 PTY LTD," through a capital increase Hanwha also revealed that it had directly purchased a 9.9% stake in Austal through an over-the-counter transaction on the Australian Securities Exchange.
Experts believe Hanwha Group’s interest in acquiring Austal is likely a strategic move for its U.S. Navy-related business. Byun Yong-jin, an analyst at iM Securities, stated, "The acquisition of Austal shares by Hanwha Group is a clear indication of the group's active push into the U.S.-driven special ship business," and added, "With this rights offering, Hanwha Group is effectively making a U.S. investment through Austal."
Last year, Hanwha Ocean(042660) had proposed acquiring Austal for 1.02 billion Australian dollars(approximately 930 billion won), but the deal fell through after Austal’s management rejected the offer. Austal manufactures naval ships, fast ferries, offshore wind turbines, and oil and gas platform vessels, and operates a shipyard in Alabama, U.S., where it handles U.S. Navy-related projects.
*[KOSPI]Hanwha(000880) serves as a holding company for the Hanwha Group and holds shares in affiliates such as Hanwha Life, Hanwha Aerospace, and Hanwha Chemical, and its own businesses include gunpowder/defense/machinery/trading. Market capitalization is 3.5156 trillion won(as of March 17, 2025, closing price).
Corporate Logo(source: hanwhacorp.co.kr)
Hanwha(000880) shares are seeing strong gains early in the session, fueled by news that the company is renewing its bid to acquire Austal, an Australian shipbuilder and U.S. Navy contractor.
As of 9:19 AM on the 18th, Hanwha's stock is trading at 49,900 won, up 6% from the previous day, marking its third consecutive day of gains. The stock briefly reached 51,400 won in the early trading session.
The driving force behind the stock's upward movement appears to be news of Hanwha’s renewed efforts to acquire Austal. Previously, Hanwha Systems(272210) and Hanwha Aerospace(012450) announced on the previous day that they would invest 202.7 billion won and 64.2 billion won, respectively, into their Australian subsidiary, "HAA No.1 PTY LTD," through a capital increase Hanwha also revealed that it had directly purchased a 9.9% stake in Austal through an over-the-counter transaction on the Australian Securities Exchange.
Experts believe Hanwha Group’s interest in acquiring Austal is likely a strategic move for its U.S. Navy-related business. Byun Yong-jin, an analyst at iM Securities, stated, "The acquisition of Austal shares by Hanwha Group is a clear indication of the group's active push into the U.S.-driven special ship business," and added, "With this rights offering, Hanwha Group is effectively making a U.S. investment through Austal."
Last year, Hanwha Ocean(042660) had proposed acquiring Austal for 1.02 billion Australian dollars(approximately 930 billion won), but the deal fell through after Austal’s management rejected the offer. Austal manufactures naval ships, fast ferries, offshore wind turbines, and oil and gas platform vessels, and operates a shipyard in Alabama, U.S., where it handles U.S. Navy-related projects.
*[KOSPI]Hanwha(000880) serves as a holding company for the Hanwha Group and holds shares in affiliates such as Hanwha Life, Hanwha Aerospace, and Hanwha Chemical, and its own businesses include gunpowder/defense/machinery/trading. Market capitalization is 3.5156 trillion won(as of March 17, 2025, closing price).