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[Alpha Biz= Kim Jisun] On April 25, Hyosung announced that its chemical arm, Hyosung Chemical, will sell a 49% stake in its Vietnamese subsidiary, Hyosung Vina Chemicals Co., Ltd., to a special purpose company (SPC) named Hyosung Vina 1st Co., Ltd. for approximately KRW 379.9 billion under a Price Return Swap (PRS) agreement.


A PRS is a derivative contract where the two parties agree to compensate each other for the difference between the stock price at contract maturity and a predetermined reference price. If the stock price falls below the reference price at the end of the contract, the seller (Hyosung Chemical) must compensate the buyer (Hyosung Vina 1st Co., Ltd.) for the loss. Conversely, if the stock price rises above the reference price, the buyer will pay the seller the gains.


Hyosung Chemical stated that the primary purpose of the transaction is to "secure liquidity and improve the company's financial structure."


The final contract is expected to be signed by June 2025, and the agreement will have a three-year term.

 

 

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