Mirae Asset Securities Files Supplementary Shelf Registration for 59.4 Billion Won ELS Issuance, Negligible Impact on Shareholder Value
Mirae Asset Securities submitted a supplementary shelf registration filing on July 7, 2026, for the issuance of ELS series 36688 and 36689, under the shelf registration effective from July 29, 2025.
The total offering amount is 59.4 billion Korean won for 3-year principal-protected-not products linked to EUROSTOXX50 S&P500 KOSPI200 or NIKKEI225 indices. The issue price is 9,900 won per security, with subscription on July 27, 2026 limited to Woori Bank trust customers.
Proceeds will be used for hedging in underlying assets and derivatives. The issuer's credit rating is AA, stable. The offering size is only 0.25% of market cap 23.9 trillion won, thus negligible dilution impact on shareholder value.
These ELS are classified as high-difficulty financial investment products with maximum potential principal loss of 100%. Losses exceeding 20% of principal may occur depending on underlying asset price movements at maturity or autocall.
Governance risk is low given AA credit rating and effective internal accounting controls, but investors must be cautious due to product complexity and principal loss risk.
[AI Summary]This is a follow-up ELS issuance under an existing shelf registration with a small 59.4 billion won size relative to market cap limiting direct dilution and shareholder value impact. Fund use for hedging is neutral and issuer credit AA is strong. Financial impact is minor despite high complexity and investor risk.
KOSPI Filing Information
Additional Documents for Shelf Registration (Derivative-Linked Securities - Equity-Linked Securities)