CloudAir Recovers 33.7 Billion KRW Investment from Kansas Signature Shipping Fund... Exploring New Growth M&A

CloudAir (CEO Ha Gwan-ho) announced on the 7th that it has received an early repayment of 33.7 billion KRW out of its 48 billion KRW investment in the Kansas Signature Shipping Fund.

The Kansas Signature Shipping Fund was established in June 2022, led by its affiliate Kansas Asset Management, with the purpose of acquiring Polaris Shipping, a major domestic bulk shipping company.

According to company officials, CloudAir's initial investment in the fund was 48 billion KRW, and today it received an early repayment of 70% of the investment, amounting to 33.7 billion KRW, from the Kansas Signature Shipping Fund.

In particular, excluding operating fees, the profit from dividends within two years of the fund investment has reached 13.7 billion KRW, and the remaining investment amount is expected to be fully recovered as early as September or by the end of the year at the latest.

A CloudAir representative stated, "Despite the recent downturn in the project financing (PF) market and the mixed conditions in the capital market, funds were recovered in a timely manner," and emphasized, "The recovered investment will be used to enter new growth engine businesses that can create synergy with the existing LED business."

CloudAir is considered an undervalued stock with a price-to-book ratio (PBR) of 0.42 times compared to its net asset value.

This content was produced with the assistance of AI translation services.