Hanyang Securities said Tuesday it has decided on a 50 billion won third-party allotment rights issue to its largest shareholder, KCGI No. 2 Private Equity Fund (KCGI PEF), to expand new businesses including over-the-counter derivatives.
The issue involves 2,380,952 common shares, with a new share price of 21,000 won. The price was set by applying a 12.9% premium to the base price of 18,605 won. The company explained that the premium issuance, rather than the conventional discount method, minimizes the dilution of existing shareholders' equity value and reflects its commitment to responsible management as a major shareholder. The newly issued shares are subject to a mandatory one-year lockup from the deposit date, restricting their sale.
Through this, Hanyang Securities plans to gradually pursue new businesses such as over-the-counter derivatives and diversify its business portfolio. The company also intends to enhance the improvement of key soundness indicators, such as its net capital ratio (NCR), through the expansion of equity capital. Regardless of this rights issue, the company plans to continue the "maintaining a dividend payout ratio of at least 30% (a minimum dividend of 1,600 won per common share)" policy presented in its corporate value enhancement (value-up) disclosure on March 26 this year.
The payment date is the eighth of next month, and the new shares are scheduled to be listed on the 20th of next month. "This capital expansion is a strategic investment to stably pursue the company's mid- to long-term growth strategy," a Hanyang Securities official said. "We aim to leap forward as a strong mid-sized securities firm with the goal of achieving 1 trillion won in equity capital by 2030."
