NH Investment & Securities issues 8 ELS series totaling about 23.5 billion KRW, no equity dilution and funds used for hedging, neutral impact on shareholder value
NH Investment & Securities issued 8 series of Equity-Linked Securities ELS from series 309 to 316, raising a total of approximately 23.539 billion KRW.
This ELS issuance does not dilute existing shares, and the proceeds will be used for hedging underlying assets, which is part of normal derivatives operation business.
Issuance costs were limited to about 1.17695 million KRW in contribution fees with no underwriting fees. Given NH Investment & Securities' solid financial structure and creditworthiness, this issuance is reliable from an investor protection perspective.
[AI Summary]NH Investment & Securities' ELS issuance involves no equity dilution, the fund size is negligible relative to market cap, and proceeds used for hedging do not harm capital efficiency. Given the issuer's high credibility and stable financials, the event is neutral for stock price and shareholder value.