Mirae Asset Securities Raises 43.2 Billion KRW via 19 ELS Tranches for Hedging, Limited Shareholder Impact
Mirae Asset Securities issued 19 tranches of Equity-Linked Securities raising a total of approximately 43.2 billion KRW.
All securities are non-principal guaranteed with high risk ratings underlying assets include global indices such as EUROSTOXX50, S&P500, KOSPI200, NIKKEI225 and individual stocks like Samsung Electronics, SK Hynix, Micron, Palantir, and Tesla.
The proceeds will be used for hedging transactions including purchases of high-grade bonds and derivative trades to ensure stable repayment of the ELS at maturity.
Most tranches were undersubscribed with some achieving subscription rates below 10% notably tranche 37852 at only 0.54%.
This issuance does not involve any dilution of existing shares or change in capital structure thus it has no direct impact on shareholder value.
[AI Summary]Mirae Asset Securities raised 43.2 billion KRW via 19 ELS tranches which were mostly undersubscribed. The funds are allocated for hedging operations and there is no equity dilution making it neutral for shareholders. However investors should be aware of potential losses from underlying asset volatility.