NAMSUNG CORPORATION Adjusts 33rd Series Exchangeable Bond Exchange Price to KRW 10,290 Following Stock Merger, Maintaining 7.25% Dilution Risk
NAMSUNG CORPORATION announced on April 16, 2026 that the exchange price of its 33rd series exchangeable bonds has been adjusted from KRW 1,029 to KRW 10,290 due to a 10-to-1 stock merger.
The stock merger reduces total outstanding shares from 36,212,160 to 3,621,216, while the number of shares deliverable upon full exchange decreases from 2,623,906 to 262,390, representing 7.25% of the post-merger total.
The higher exchange price relative to the post-merger market price may limit dilution impact, but the 7.25% potential dilution still poses a risk to existing shareholders.
The funds raised will be used to repurchase the 31st series exchangeable bonds, improving the company's debt ratio but offering no direct growth catalyst.
[AI Summary]NAMSUNG CORPORATION's adjustment aligns with the stock merger to protect bondholder value, but the persistent 7.25% dilution and defensive capital use limit positive shareholder impact. Investors should monitor the company's ability to generate long-term value beyond financial restructuring.
KOSPI Filing Information
Adjustment of Conversion Price, Exercise Price of Stock Subscription Rights, and Exchange Price (Notice of Disclosure)