KUMHO ELECTRIC Adjusts 13th CB Conversion Price from 937 KRW to 4,685 KRW Due to Reverse Stock Split, No Change in Effective Dilution
KUMHO ELECTRIC adjusted the conversion price of its 13th series unsecured private convertible bonds from 937 KRW to 4,685 KRW following a reverse stock split.
The adjustment is arithmetic due to the consolidation of par value from 500 KRW to 2,500 KRW per share. The number of convertible shares declines from 3,201,707 to 640,341, but total outstanding shares also decrease proportionally, leaving the effective dilution unchanged.
This adjustment is automatic without board resolution, effective July 17, 2026.
[AI Summary]The conversion price adjustment is purely arithmetic due to the reverse stock split, with no change in the bondholders' economic rights or capital structure. No new capital is raised, so the impact on shareholder value is neutral.
KOSPI Filing Information
Adjustment of Conversion Price, Exercise Price of Stock Subscription Rights, and Exchange Price (Notice of Disclosure)