Kyobo Securities K-ELS 17th and 18th Issuance Performance Report Confirms Low Subscription Rates vs Target
Kyobo Securities recorded low subscription rates of 3.03% for the 3 billion KRW K-ELS 17th issuance and 3.67% for the 3 billion KRW K-ELS 18th issuance. The offerings were closed with partial payment, resulting in actual proceeds of 91 million KRW and 110 million KRW respectively.
The raised funds will be used for hedging derivatives linked to underlying assets Samsung Electronics and SK Hynix. These products are classified as high-difficulty financial instruments with potential principal loss.
[AI Summary]This securities issuance performance report confirms weak demand for Kyobo's ELS products. While there is no direct dilution impact on existing shareholders, it may raise concerns about the issuer's fundraising capability.