Korea Investment Securities announced on the 26th that it has decided to carry out a paid-in capital increase worth 900 billion won. The purpose is to strengthen its financial soundness.
It will issue 18,000 common shares as new shares. The par value per share is 5,000 won, and the price for the new share issuance is 50 million won. Korea Financial Holdings, which holds 100% of Korea Investment Securities' equity, will fully invest. The subscription date is scheduled for the 26th of next month.
Once this capital increase is completed, Korea Investment Securities' equity is expected to exceed 12 trillion won by the end of the year. As of the end of June, the equity was 10.5216 trillion won, and combining the 900 billion won raised through the capital increase with the projected net income for the second half of this year (600 billion won), it is calculated that a level of 12 trillion won is feasible.
Korea Investment Securities has been continuing its capital increase for the past few years. It conducted a paid-in capital increase worth 300 billion won at the end of last year, and in March this year, it issued new capital securities worth 700 billion won.