"Number of Stock-Related Bond Rights Exercises Down 32% Year-on-Year Last Year"

[Asia Economy Reporter Minji Lee] The Korea Securities Depository announced on the 11th that the number of exercised rights for stock-related bonds last year was 4,810, a 31.9% decrease compared to the previous year. The amount of exercised rights was 2.896 trillion won, down 30.6% from the previous year.

Stock-related bonds refer to bonds such as Convertible Bonds (CB), Exchangeable Bonds (EB), and Bonds with Warrants (BW) that can be converted or exchanged into shares of the issuing company or another company under certain predetermined conditions at the time of issuance.

By type, the number of exercised rights for CBs was 2,627, a 42.1% decrease compared to the previous year. EBs were 124, down 55.4%, and BWs were 2,059, down 8.5%.

In terms of the amount of exercised rights, CBs amounted to 2.1253 trillion won, a 33.4% decrease from the previous year, while EBs and BWs were 150.2 billion won and 621.2 billion won, down 42.7% and 13.8%, respectively.

The top three stock-related bonds by exercised amount were Doosan Heavy Industries & Construction 1st WR (384 billion won), Korean Air 92nd CB (300 billion won), and Doosan Enerbility 2nd WR (60.5 billion won), in that order.