HanWool & Jeju Finalizes 13th CB Conversion Price at KRW 20,193 Slightly Reducing Dilution to 12.35%
HanWool & Jeju amended its 13th convertible bond disclosure on July 6, 2026, finalizing the conversion price at KRW 20,193, up from the previous KRW 19,783.
The upward adjustment reduces the number of new shares issuable upon conversion to 334,274 shares, lowering the dilution ratio to 12.35% of outstanding shares. However, including all outstanding convertible bonds, the total potential dilution remains high at 95.29%.
This amendment is a procedural finalization reflecting the market price just before the payment date. The total issuance amount of KRW 6.75 billion and the purpose of acquiring stakes in unlisted Dongyang Precision remain unchanged.
[AI Summary]The slightly higher conversion price eases immediate dilution concerns, but the 95% total potential dilution remains a significant overhang. The entry into the defense sector via Dongyang Precision acquisition offers growth potential, but the pace of post-acquisition earnings improvement will be key.
KOSDAQ Filing Information
[Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)