Kyobo Securities Completes Issuance of Equity-Linked Derivative Bonds Series 12517 and 12518, Raising Approx. 452.7 Million KRW, No Dilution for Existing Shareholders
Kyobo Securities issued series 12517 and 12518 equity-linked derivative bonds on June 11, 2026, raising a total of KRW 452,725,000.
Actual subscription was only about 2.3% of the initially planned KRW 19.9 billion, with KRW 24,875,000 allocated to series 12517 and KRW 427,850,000 to series 12518.
The proceeds will be used for hedging purposes related to the underlying assets Samsung Electronics and SK Hynix common stocks.
As these bonds are non-convertible debt instruments, there is no dilution of existing shares and no change in share capital.
[AI Summary]Kyobo Securities' ELS issuance was modest in size and saw limited market demand as indicated by the low subscription rate. Since the bonds are not convertible into equity, the impact on existing shareholder value is neutral, and the funds are allocated to hedging rather than growth initiatives.