Mirae Asset Securities Issues ELS Series with Subscription Rates Ranging 32.82% to 95%, Proceeds Used for Hedging
Mirae Asset Securities has completed the issuance of three series of equity-linked securities ELS from series 37910 to 37912. The total offering amount for each series was 15 billion KRW with an issue price of 10,000 KRW per security.
Subscription results show series 37910 achieved 78.74%, series 37911 achieved 95.00%, and series 37912 achieved 32.82% subscription rates, raising a total of 30.985 billion KRW. The unsubscribed portion was treated as unissued.
The proceeds will be used for purchasing high-quality bonds and hedging derivative transactions to ensure stable repayment at maturity, which falls under the company's routine fund management.
These securities are issued in electronic form without physical certificates and are not listed for trading. The underlying asset is the KOSPI200 index with maturities on July 9, 2027 and July 10, 2029 respectively.
[AI Summary]Mirae Asset Securities' ELS issuance does not dilute common equity and the proceeds are used for routine hedging, thus having minimal direct impact on shareholder value. However, the low subscription rate for series 37912 indicates weak market demand and may pose a risk factor for future issuances.