KIWOOM Securities Completes Issuance of 9 ELS Series, 2 Cancelled with Low Subscription Rates
KIWOOM Securities submitted a Securities Issuance Report detailing the results of its public offering of 11 Equity-Linked Securities ELS series conducted from July 3 to July 9, 2026.
Nine out of 11 series were successfully issued, while series 1958 and 1963 were cancelled due to insufficient subscriptions, with full refunds processed.
Actual funds raised amounted to approximately 12.3 billion KRW against a planned total of 70.5 billion KRW, reflecting low subscription rates ranging from 1% to 37% across series.
The proceeds will be fully used for hedging derivative transactions. The securities are classified as high-difficulty financial products where losses exceeding 20% of principal may occur at maturity or upon early redemption.
Underlying assets include KOSPI200, Tesla, Micron Technology, Palantir Technologies, and Samsung Electronics.
[AI Summary]These ELS issuance results indicate weak investor demand. The actual raised amount was significantly below target, which may negatively impact the company's fee income. However, as ELS issuance does not involve equity dilution, the impact on existing shareholders is neutral.