iM Securities will issue additional hybrid capital securities to raise capital.
iM Securities said on the 11th it plans to issue hybrid capital securities worth 50 billion won on the 14th. The maturity is 30 years, the coupon is 5.78%, and interest is paid every three months. iM Financial Group will purchase the entire offering.
Earlier, iM Securities also issued hybrid capital securities worth 150 billion won in August. When this issuance is completed, it will have raised a total of 200 billion won in capital over two months.
As a result, iM Securities' equity capital is expected to increase to the 1.3 trillion won range. The net capital ratio (NCR) is also expected to improve, rising to 531%, up 126 percentage points from the end of the previous year, the company said.
Based on the expanded capital, iM Securities plans to secure additional revenue sources and focus on preparing future growth engines.
iM Financial Group previously purchased hybrid capital securities worth 200 billion won issued by iM Securities in March 2022.
An official at iM Securities said, "Through the issuance of hybrid capital securities that began in July, we were able to restore capital size and improve capital adequacy," adding, "We will build a foundation for sustainable growth by maximizing efficiency based on preemptive risk management of the secured capital."