Mirae Asset Securities Issues ELBs Series 4017-4020 Raising KRW 58.6 Billion with Low Subscription Rates
Mirae Asset Securities issued four series of Equity-Linked Bonds ELB from 4017 to 4020 on June 30, 2026.
Actual funds raised were only approximately KRW 58.6 billion against a planned total of KRW 210 billion, resulting in subscription rates between 25% and 33%.
The proceeds will be used for hedging transactions to manage maturity repayment risks.
The bonds are unlisted and issued via electronic registration, causing no dilution to existing shareholders.
The issuer Mirae Asset Securities is a major financial institution with good credit and conducted the offering directly without underwriters.
[AI Summary]The ELB issuance by Mirae Asset Securities is for hedging purposes rather than capital expansion, limiting direct impact on shareholder value. The low subscription rate indicates weak market demand, but the issuer's credit risk remains low.