Mirae Asset Securities Issues KRW 59.4B in ELS for Funding and Hedging, Neutral for Shareholders
Mirae Asset Securities issues a total of KRW 59.4B in Equity-Linked Securities (ELS) (two series of KRW 29.7B each) on June 2, 2026. The products are linked to EUROSTOXX50, S&P500, and NIKKEI225 indices, are principal non-guaranteed, high-risk, and offered at KRW 9,900 per unit (face value KRW 10,000).
These ELS are not listed on an exchange and are classified as high-difficulty financial investment products, where early redemption before maturity (June 18, 2029) may result in principal loss. The issuer's credit rating is AA (from Korea Ratings, NICE, and KIS), but the products are not covered by depositor protection.
The proceeds will be used for hedging and trading in underlying assets and derivatives, which is part of normal business operations and has limited direct impact on shareholder value.
[AI Summary]This ELS issuance is a routine funding and risk management activity for Mirae Asset Securities, with no equity dilution or capital structure change, thus neutral for shareholders. However, given the complex nature of the products, investor protection and market risk management are key, while the issuer's AA credit rating remains stable.