HLB Adjusts Upward Conversion Price for 39th Series CB Reducing Potential Dilution
HLB adjusted the conversion price of its 39th series unlisted convertible bond upward from 52,715 KRW to 65,831 KRW. This automatic adjustment was triggered by the rise in market price and did not require a board resolution.
The upward revision reduces the number of shares issuable upon conversion from 14,606 to 11,696 based on the outstanding 770 million KRW face value, a decrease of approximately 20%. This alleviates potential dilution for existing shareholders.
The adjustment stays within the initial issuance conversion price ceiling, ensuring no additional financial burden. No capital change or new fundraising is involved.
[AI Summary]HLB's upward conversion price adjustment for its CB reduces potential dilution risk without any capital outlay. It protects shareholder value and reflects the company's improved market valuation.