Shinhan Seobu T&D REIT sees 1.47% dilution from convertible bond conversion, potential stock price pressure

Exercise of conversion rights on convertible bonds results in issuance of 869,565 new shares, representing 1.47% dilution.
Conversion price of 3,335 KRW is 21.8% below current market price of 4,265 KRW, raising shareholder value concerns.
Remaining unconverted bonds of 4.1 billion KRW can be converted into 1,229,385 additional shares, indicating further dilution.
No new capital raised as conversion is debt-to-equity swap; no growth funding.
[AI Summary]Shinhan Seobu T&D REIT's CB conversion triggers 1.5% dilution at a steep discount, pressuring stock price with additional conversions pending.