Kyobo Securities raised a total of KRW 9.18 billion through its 50243rd and 50244th equity-linked derivative bonds.
The 50243rd bond saw a subscription rate of 18.3% with KRW 9.15 billion subscribed against a planned KRW 50 billion, while the 50244th bond had only KRW 24.28 million subscribed against KRW 30 billion, a rate of 0.08%.
The proceeds will be used to hedge the underlying asset KEPCO common stock via derivatives and stock trading to ensure stable repayment.
This issuance is debt financing with no equity dilution or capital structure change, thus having no direct impact on shareholder value.
[AI Summary]Kyobo Securities raised KRW 9.18 billion via ELB issuance, but extremely low subscription rates indicate limited market demand. Funds are used for underlying asset hedging with no dilution or capital increase, making the impact on existing shareholders neutral.