Hana Financial Group will conduct a capital increase worth 300 billion won through a shareholder allocation to its subsidiary, Korea Investment Securities.
According to the Financial Supervisory Service electronic disclosure system on the 27th, Hana Financial Group held a board meeting the previous day and approved the capital increase. Korea Investment Securities is a subsidiary in which Hana Financial Group holds 100% equity.
Korea Investment Securities will issue 6,000 new shares at 50 million won per share, and Hana Financial Group will acquire all of them. The new share allocation date is set for Dec. 26, with payment completed on that day. The number of new shares allocated per share is calculated at 0.0001706 shares.
The 300 billion won raised will be used entirely as operating funds. The newly issued shares this time will be subject to a one-year transfer restriction (lock-up), which will limit their trading or transaction.
A representative from Korea Investment Securities noted, “This is a capital increase in which the parent company participates annually for business preparations for next year.”