[Disclosure] Hanamicron(067310) Receives Conversion Request for 43.2B KRW in Convertible Bonds

Fact Source: Financial Supervisory Service – Data Analysis, Retrieval and Transfer System (DART) / 2024-03-15

Disclosure Type: Exercise of Conversion Rights

💡 3-Second Summary A holder of Hanamicron’s 12th series convertible bonds has requested to convert approximately 43.2 billion KRW worth of debt into 4,062,321 new shares.

📊 1. [Key Details and Figures]

• Conversion Amount: 43,190,610,000 KRW
• Number of Shares: 4,062,321 shares
• Conversion Price: 10,632 KRW
• Listing Date: March 29, 2024
• Remaining CB Balance: Approx. 4.8 billion KRW (Conversion potential: 452,350 shares)

📈 2. [Expert Insight: Impact Analysis on Stock Price]

This mass conversion request presents a significant ‘overhang’ risk for the market.

• Supply Pressure: With 4.06 million new shares—representing 8.45% of total shares—entering the market, short-term volatility is highly probable. Profit-taking by the bondholder is a major concern given the spread between the conversion price and the market price.
• Strategic Signal: While the bondholder’s shift to equity reflects faith in the company’s future, the sudden supply of shares often creates technical pressure on the stock price.
• Conclusion: Investors should exercise caution, as the market’s digestion of this influx will be the primary driver of price action around the March 29 listing date.

📝 Editor’s Comment (by K-STOCK Editor)

This isn’t a small adjustment; it’s a massive 43-billion KRW debt-to-equity shift. For the CB holders who locked in at 10,632 KRW, the current market price is an open invitation to lock in significant profits. Bringing 4 million shares into the market is no minor ripple; it’s a wave. Don’t be fooled by the ‘investor confidence’ narrative—this is about liquidity and exit strategy. Watch the trading volume around the listing date; if you aren’t ready to dance with this volatility, watch from the sidelines.

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