Kim Dong-seon bets W128.5b on Hanwha M&S

What happened: Hanwha President Kim Dong-seon launched a tender offer for a 19 percent stake in Hanwha Machinery & Service Holdings, offering 8,000 won per share for up to 16.06 million shares from Monday through Nov. Why it matters: Shareholders had voiced concerns over the declining share price and growth prospects. A Hanwha M&S official said the growth potential of the group's tech and life businesses has not been fully reflected in the share price, and expects the tender offer to send a positive signal to the market and shareholders.

Hanwha President Kim Dong-seon launched a tender offer for a 19 percent stake in Hanwha Machinery & Service Holdings, offering 8,000 won per share for up to 16.06 million shares from Monday through Nov.

Shareholders had voiced concerns over the declining share price and growth prospects. A Hanwha M&S official said the growth potential of the group's tech and life businesses has not been fully reflected in the share price, and expects the tender offer to send a positive signal to the market and shareholders.