Hanwha Investment & Securities Completes Issuance of Two Equity-Linked Bonds, Actual Proceeds Only 576 Million KRW for Hedging
Hanwha Investment & Securities submitted a Securities Issuance Performance Report for Hanwha Smart ON ELB Series 154 and 155 equity-linked derivative bonds.
The total public offering amount for each series was 5 billion KRW, but actual subscriptions were only 460.7 million KRW 9.2% for Series 154 and 115.6 million KRW 2.3% for Series 155, showing low demand.
The raised funds of approximately 576 million KRW will be used for hedging to manage redemption risk, and since these are bond issuances with no new shares, there is no dilution for existing shareholders.
[AI Summary]Hanwha Investment & Securities ELB issuance raised only 576 million KRW due to weak demand, 88% below plan, but the funds are for hedging and there is no equity dilution, making the impact neutral on stock price. The issuer, Hanwha Investment & Securities, is a stable major securities firm with low credit risk.