Kyobo Securities Issues 9.93 Billion KRW in ELS Linked to SK Hynix and Samsung Electronics, No Dilution but Product-Specific Risks
Kyobo Securities will issue a total of 9.93 billion KRW in Equity Linked Securities ELS series 13605 and 13606 through subscription on June 19, 2026.
Series 13605 is linked to SK Hynix common stock, while series 13606 is linked to both Samsung Electronics and SK Hynix common stocks. Both products have a 3-year maturity, partial principal protection, and a maximum loss rate of 10%.
Kyobo's credit rating is AA-, indicating stable creditworthiness. Proceeds will be used for hedging and derivative investments. Since these securities are cash-settled with no conversion to equity, there is no dilution for existing shareholders.
[AI Summary]Kyobo Securities issues 9.93 billion KRW in ELS with no capital change, thus no dilution concern for existing shareholders. The partial principal protection structure allows up to 10% loss, and the unlisted status limits liquidity. Issuer credit rating AA- ensures repayment capacity, but underlying asset price fluctuations pose investment risks.