Hanwha Investment & Securities Reports Issuance of 5 ELS Series, Proceeds for Hedging
Hanwha Investment & Securities completed the issuance of five equity-linked securities ELS series. Total planned amount was 49.5 billion KRW, but actual subscriptions totaled 19.6 billion KRW, a subscription rate of 39.6%.
The proceeds will be used for hedging underlying assets to manage early redemption and maturity risks.
Each series is linked to KOSPI200, S&P500, and EuroStoxx50 indices, with a maximum maturity of 3 years and various early redemption conditions.
[AI Summary]This ELS issuance is for hedging purposes with no dilution to shareholder value. However, the low subscription rate reflects weak market demand. The impact on Hanwha Investment & Securities financial soundness is limited.