Kyobo Securities Issues KRW 9.93 Billion Principal-Protected ELS on SK Hynix and Samsung, No Capital Change, Neutral to Shareholder Value
Kyobo Securities announced on July 13, 2026 that the prospectus for its 13640th and 13641st Equity-Linked Securities became effective.
The total issuance is KRW 9.93 billion: the 13640th is linked to SK Hynix single stock, and the 13641st is linked to both Samsung Electronics and SK Hynix stocks. Both are principal-protected partial repayment type with moderate-high risk, and maximum loss is limited to 10%.
The proceeds will be used for underlying asset hedging and financial investment. No new shares will be issued, so there is no dilution of existing shareholders.
Kyobo Securities' credit rating is AA-, stable. These securities are unlisted, not protected by the depositor protection act, and early redemption may result in principal loss.
[AI Summary]This KRW 9.93 billion ELS issuance is routine financing and hedging activity with no capital change, neutral to shareholder value. The AA- credit rating provides solid issuer credibility, but investors should be aware of potential principal loss and low liquidity.