Mirae Asset Securities to Issue KRW 19.9 Billion in KOSPI200-Linked ELBs - Principal-Protected Product with No Shareholder Dilution
On July 21, 2026, Mirae Asset Securities filed a supplementary shelf registration document confirming the public offering of two series of Equity-Linked Bonds ELBs: Issue No. 4035 and No. 4036, totaling KRW 19.9 billion.
Each KRW 9.97 billion tranche is linked to the KOSPI200 index with a 3-year maturity and monthly coupon payment conditions, structured as principal-protected products. Proceeds will be used for hedging and investment purposes.
As this is a debt issuance, there is zero dilution for existing shareholders. Mirae Asset Securities is also implementing a KRW 100 billion treasury stock acquisition and cancellation plan as resolved by the board on January 26, 2026. The company's consolidated BIS capital adequacy ratio NCR stood at 3,437% at end-2025, indicating very strong capital health.
[AI Summary]Mirae Asset Securities' KOSPI200-linked ELB issuance is a routine funding activity in the capital markets. It is a principal-protected product with no shareholder dilution, executed by a major securities firm with an AA credit rating. Concurrent share buyback and cancellation policies limit any negative impact on the stock price.