Hyundai Motor Securities attracted a subscription rate of over 100% for its capital increase of 162 billion won targeted at employee stock ownership associations and existing shareholders.
According to a disclosure by the Financial Supervisory Service on the 28th, Hyundai Motor Securities recorded a subscription rate of 102.78% in the offering targeted at employee stock ownership associations and existing shareholders held from the 26th to the 27th. The employee stock ownership association fully subscribed to the allocated amount of 3,012,048 shares, demonstrating a subscription rate of 100%.
The number of shares offered to existing shareholders was 27,108,434 shares, with total subscriptions, including oversubscriptions of 2,193,902 shares, aggregating to 27,946,652 shares (103.09%). Hyundai Motor Securities analyzed that the participation of group companies such as Hyundai Motor, Kia, and Hyundai Mobis led to the positive subscription atmosphere for this capital increase.
The 2,794 shares resulting from the subscription by existing shareholders will be acquired by NH Investment & Securities, the lead underwriter, based on its own calculations, with the payment scheduled for March 7. The listing date for the new shares is set for March 19.
Hyundai Motor Securities raised a total of 162 billion won through this capital increase. The raised funds will primarily be used for the development of next-generation systems. Additionally, there are plans to enhance investment banking (IB) competitiveness in retail and corporate finance through the acceleration of digital transformation, expansion of equity capital, and to improve financial structure by reducing borrowing levels, including the redemption of redeemable convertible preferred shares (RCPS).
Bae Hyung-geun, president of Hyundai Motor Securities, said, "I sincerely thank the shareholders and employees who participated in the capital increase, believing in the company's vision and growth potential," and added, "Based on this capital increase, we will actively pursue 'corporate value-up' to enhance corporate value and shareholder value."