NH Investment & Securities ELS Series 69 and 70 Issuance Report: Low Subscription Rate Results in Proceeds of Only 11.5% of Planned Amount
NH Investment & Securities issued two equity-linked securities series 69 and 70. The total subscription amount was only about 11.5% of the planned 100 billion KRW, resulting in actual proceeds of 11.5 billion KRW.
The shortfall was handled as non-payment and the issuance closed with partial payment. The raised funds will be used for hedging the underlying assets.
These are derivative securities and do not cause dilution of existing shares.
[AI Summary]The extremely low subscription rate for NH Investment & Securities ELS issuance indicates weak market demand, reducing the intended capital raise significantly. However, the company's creditworthiness and existing shareholder value remain unaffected as no equity dilution occurs.