Hana 31 SPAC (469900.KQ)

Hana 31 SPAC (469900.KQ) — VMCI valuation read

Hana 31 SPAC sits at VMCI 52/100, with the Financial Services sector median at 50. That 2-point spread is the first thing to note on 469900.KQ: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on 469900.KQ are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on 469900.KQ: 469900.KQ trades at 20.0x earnings, 11% above the Financial Services median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 12.0% sits 2.0pp above the Financial Services median (10.0%). The Risk read: net debt to EBITDA of 2.8x is the rate-sensitivity line to watch, anchoring the bear scenario on a measurable balance-sheet metric.

469900.KQ rose 0.1% over the trailing 7 days, with a -5.8% read on a 30-day basis.