Kyobo Securities Files Supplementary Shelf Registration for 99.3 Billion Won Principal-Protected ELS Issuance, No Shareholder Dilution
Kyobo Securities submitted a supplementary shelf registration statement on July 3, 2026 for its 13635th ELS linked to SK Hynix common stock and 13636th ELS linked to Samsung Electronics and SK Hynix common stock.
Each tranche is 49.65 billion won for a total of 99.3 billion won. These are principal-protected moderately high risk grade 3 products with a 3-year maturity, auto-call structure, and monthly coupon payments. Maximum loss is limited to 10%.
The proceeds will be used for hedging underlying assets and investing in financial instruments, and since no new shares are issued, there is no dilution for existing shareholders. Kyobo Securities maintains an AA- credit rating and reported a consolidated net profit of 139.3 billion won in 2025.
The annual dividend for 2025 was 550 won per share, providing shareholder return.
[AI Summary]This ELS issuance is part of Kyobo Securities' routine business operations with no capital structure change, making it neutral for shareholder value. The AA- credit rating ensures sound issuance credibility, and while the use of proceeds for hedging offers limited growth potential, financial risk remains constrained.
KOSPI Filing Information
Additional Documents for Shelf Registration (Derivative-Linked Securities - Equity-Linked Securities)