[Special Stock] Hurim A-Tech, Edge Foundry-Hanwha Intelligence Merger... Share Value Highlighted↑

Hurim A-Tech is showing strong performance. This is attributed to the rising stock price driven by the merger expectations between its investor Edge Foundry and Hanwha Intelligence, highlighting the value of its equity stake.

As of 1:39 PM on the 19th, Hurim A-Tech is trading at 650 KRW, up 6.04% from the previous day.

Hanwha Intelligence is a joint venture established in September 2021, with Hanwha Systems and Edge Foundry investing 26.3 billion KRW and 25.4 billion KRW respectively, totaling 51.7 billion KRW. Accordingly, Hanwha Systems holds a 50.9% stake, while Edge Foundry holds 49.1%.

Through this merger, the 526,000 shares of Hanwha Intelligence held by Hanwha Systems will be converted into 6,856,820 shares (10.69%) of Edge Foundry, positioning Hanwha Systems as the second-largest shareholder of Edge Foundry.

Since the merger announcement on December 6 last year, the merger contract approval was passed at the extraordinary general meeting held on the 6th of this month, and the recent buyout price has also exceeded expectations, indicating that the merger has effectively passed the final hurdle.

Meanwhile, the largest shareholder of Edge Foundry is AI Core Biz, which is a company fully funded by a fund established by JK Withers. Hurim A-Tech is known to be a major investor in this fund.