Mirae Asset Securities Launches Three New ELS Issues Worth 89.1 Billion KRW
Mirae Asset Securities is issuing three additional equity-linked securities series 36992, 36993 and 36994 under its existing shelf registration. The total offering amounts to 89.1 billion KRW, each tranche being a high-risk principal non-guaranteed ELS linked to EUROSTOXX50, S&P500, KOSPI200 or NIKKEI225 indices.
This supplementary filing is part of the company's routine ELS public offering and does not involve any dilution of existing shareholders or capital changes. Proceeds will be used for underlying asset hedging and investment in financial instruments, which is a standard capital allocation practice for a securities firm.
Mirae Asset Securities holds an AA credit rating and reported a net income of 595.1 billion KRW in fiscal year 2025. The company actively returns value to shareholders through a 300 KRW per share cash dividend and an 80 billion KRW share buyback program. Its consolidated net capital ratio NCR stands at 3437%, significantly exceeding regulatory requirements and indicating a sound financial position.
[AI Summary]This ELS issuance represents a routine funding activity for Mirae Asset Securities with limited direct impact on existing shareholders. The company maintains a strong credit profile and healthy financials, supported by shareholder-friendly policies. However, investors should be mindful of the high-risk nature of ELS products and the issuer's credit risk.
KOSPI Filing Information
Additional Documents for Shelf Registration (Derivative-Linked Securities - Equity-Linked Securities)