KX HITECH Fully Converts Convertible Bonds into Shares, Increasing Outstanding Shares by 4.91% and Diluting Existing Shareholders
KX HITECH received a conversion exercise notice on June 19, 2026 for its 12th series unregistered unsecured private convertible bonds amounting to 3.5 billion KRW, resulting in the issuance of 3,593,429 new shares at a conversion price of 974 KRW per share.
This increases total outstanding shares by 4.91% from 73,074,661 shares, with the new shares scheduled for listing on July 10, 2026, and the entire convertible bond balance becomes zero.
The new shares represent approximately 5.1 billion KRW in value based on the current market cap of about 104.2 billion KRW, directly diluting existing shareholders' stakes by the same percentage.
The disclosure contains no additional shareholder return measures such as treasury stock acquisition or cancellation beyond the share increase from conversion.
[AI Summary]The full conversion of KX HITECH's 12th series convertible bonds increases outstanding shares by 4.91%, diluting existing shareholder value. With the conversion price of 974 won below the current stock price of 1426 won, this conversion does not bring new capital but solely dilutes equity, potentially pressuring the stock price.