Photo = FSS

 

 

[Alpha Biz= Reporter Kim Sangjin] The Financial Supervisory Service (FSS) has put the brakes on Hyundai Motor Securities' 200 billion KRW rights offering plan.

According to financial industry sources on December 13, the FSS requested a corrected filing for the securities registration statement submitted by Hyundai Motor Securities on November 27. The FSS can demand a correction if the filed registration statement is improperly formatted, contains false information, is incomplete, or has unclear information regarding important matters.

As a result, the effectiveness of Hyundai Motor Securities' registration statement submitted on November 27 is suspended. If a corrected filing is not submitted within three months, the registration will be considered withdrawn.

Previously, on November 26, Hyundai Motor Securities announced plans to raise about 200 billion KRW through a rights offering, with a combination of shareholder allotment and a public offering of unsubscribed shares. The new shares to be issued amount to 30,012,482, which is 94.9% of the company's total outstanding shares, representing a large scale offering.

Following the announcement, Hyundai Motor Securities' stock price dropped by 13.07% on November 27, compared to the previous day's close on the securities market.

 

 

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