Conversion Price Upward Adjustment for 16th Series CB Due to Market Price Rise Reduces Potential Dilution
The conversion price of the 16th series convertible bond was adjusted upward from 1,714 won to 1,785 won.
The number of shares issuable upon conversion decreased by approximately 232,065 shares from 5,834,305 to 5,602,240, mitigating dilution risk for existing shareholders.
This adjustment follows the contractual formula due to a rise in the market price and did not require board approval.
[AI Summary]The upward conversion price adjustment reduces the maximum potential dilution from the outstanding CB by about 4% in terms of shares, positively affecting shareholder value and stock price outlook.