Hyundai Motor Securities to Raise ₩2 Trillion through Rights Offering

[Alpha Biz= Reporter Kim Sangjin] Hyundai Motor Securities announced on the 26th that it will proceed with a rights offering to raise ₩2 trillion.

The new shares to be issued in this offering will amount to 30,124,482 shares, which is 95% of the company's previously issued 31,712,562 common shares. The offering price per share is set at ₩6,640, totaling ₩2 trillion.

The company plans to allocate ₩1 trillion of the funds raised for investments in next-generation IT system development and other facility upgrades. Another ₩225.3 billion will be used to reduce its debt, including the repayment of redeemable convertible preference shares (RCPS). The remaining ₩774.7 billion will be used for general corporate purposes.

This marks Hyundai Motor Securities' first rights offering since November 2019, when it raised ₩1.036 trillion through a third-party placement. As of the end of September, Hyundai Motor Securities' standalone equity capital stood at ₩1.293 trillion.