NH Investment & Securities Reports ELS Series 65 Issuance Results - Only 8.1% Subscribed, Funding Shortfall
NH Investment & Securities submitted the securities issuance performance report for N2 Retirement Pension ELS Series 65 equity-linked securities.
The offering saw only 242.9 million won subscribed out of the planned 3 billion won, a poor subscription rate of 8.1%.
The shortfall was closed with partial payment, and the proceeds will be used for hedging the underlying assets.
These equity-linked securities have no conversion rights into common stock, so no dilution for existing shareholders occurs.
[AI Summary]The low subscription rate for ELS Series 65 resulted in a funding shortfall, but as a structured product rather than equity issuance, it does not dilute common shareholders. The funds are used for hedging, with no impact on capital adequacy or dividend policy.