Kiwoom Securities Issues 240 Billion Won in Unsecured Bonds for Debt Refinancing, Continues Share Buybacks and Cancellations
Kiwoom Securities will issue 240 billion won in 21st series unsecured public bonds on June 11, 2026, with all proceeds used to repay existing electronic short-term bonds.
The company's NCR operational net capital ratio stood at 1848.23% as of end-Q1 2026, far exceeding the regulatory threshold of 100%, while the leverage ratio was 828%, well below the 1100% limit.
Kiwoom Securities continues its shareholder return policy with share cancellations totaling approximately 1.864 million shares: 700,000 shares worth 70 billion won in February 2025, 300,000 shares worth 31.6 billion in April 2025, 695,345 shares worth 81.1 billion in February 2026, and 166,206 RCPS shares worth 40 billion in May 2026.
The largest shareholder Daou Technology holds a 42.45% stake in common shares, and the company faces potential disadvantages in capital raising compared to financial holding group-affiliated rivals due to its independent structure.
[AI Summary]Kiwoom Securities' 240 billion won bond issuance aims to refinance short-term debt into longer-term debt, improving maturity profile without diluting equity. While the use of proceeds is defensive rather than growth-oriented, the company's robust capital ratios and AA0 credit rating underpin its financial stability, making this a neutral capital management move.