Hanwha Acquires 9.9% Stake in Austal Limited

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Hanwha Acquires 9.9% Stake in Austal Limited

Austal Limited ( (AU:ASB) ) has shared an update.

Hanwha, through its subsidiary HAA No.1 Pty Ltd, has acquired a 9.9% stake in Austal Limited, a company known for its shipbuilding and defense contracting services. This acquisition was made through purchase trades from various sellers. Additionally, Hanwha has an economic interest in Austal via a cash-settled total return swap and an equity collar transaction, both referencing 9.9% of Austal’s ordinary shares. These financial instruments do not grant Hanwha any rights to physical shares or other rights in Austal.

More about Austal Limited

YTD Price Performance: 34.61%

Average Trading Volume: 5,765

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $896.6M

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