Kyobo Securities Issues 99.3 Billion Won in Two Equity-Linked Securities for Hedging Purposes, No Dilution for Existing Shareholders
Kyobo Securities is launching a public offering of its 13629th and 13630th equity-linked securities on July 10, 2026, totaling 9.93 billion won. The 13629th series is linked to SK Hynix common stock, while the 13630th series is linked to both Samsung Electronics and SK Hynix common stock, maturing on July 12, 2029.
These are partial principal-protected securities with a maximum loss capped at 10%, but they are not covered by the depositor protection act and carry issuer credit risk Kyobo Securities credit rating AA-. The proceeds will be used entirely for hedging underlying assets and investing in financial products.
The securities are unlisted, and early redemption may result in principal loss. The issuer may cancel the offering if total subscriptions are below 500 million won.
Kyobo Securities holds a AA- credit rating from both Korea Ratings and NICE Investors Service. These unsecured and unguaranteed securities rank equally with the issuer's other unsecured obligations.
[AI Summary]Kyobo Securities' ELS issuance is a derivative offering that does not directly impact existing shareholder value. The use of proceeds is limited to hedging, making it neutral in terms of capital efficiency. The issue size is 0.9% of market cap, and the issuer's AA- credit rating mitigates investor risk.
KOSPI Filing Information
Additional Documents for Shelf Registration (Derivative-Linked Securities - Equity-Linked Securities)