Fact Source: Financial Supervisory Service DART / 2024-03-27
Disclosure Type: Adjustment of Conversion Price, Exercise Price, or Exchange Price (Information Disclosure)
💡 3-Second Summary
SK Hynix has adjusted the exchange price of its foreign currency exchangeable bonds issued on April 11, 2023, from KRW 111,180 to KRW 110,033 per share following a cash dividend payout.
📊 1. [Key Disclosure Details & Major Figures Summary]
- Category: Adjustment of Exchange Price
- Security Type: Foreign Currency Exchangeable Bonds (Issued April 11, 2023)
- Exchange Price Adjustment:
- Pre-adjustment Exchange Price: KRW 111,180
- Post-adjustment Exchange Price: KRW 110,033
- Change in Exchangeable Shares (Based on unexercised principal of KRW 2,237,710,000,000):
- Pre-adjustment Exchangeable Shares: 20,126,911 shares
- Post-adjustment Exchangeable Shares: 20,336,717 shares (+209,806 shares)
- Reason for Adjustment: Exchange price adjustment due to cash dividend
- Method of Adjustment: Pursuant to bond terms: Adjusted Price = Pre-adjustment Price × [(Market Price per Share – Cash Dividend per Share) / Market Price per Share]
- Effective Date: January 1, 2024 (Applied retroactively following the record date of December 31, 2023)
- Additional Notice: Unexercised principal converted using the reference FX rate of 1,316.30 KRW/USD as of April 3, 2023
📈 2. [Expert Perspective: Significance for Investors]
This filing serves as a regulatory notice confirming the adjustment of the exchange price for foreign currency exchangeable bonds issued in April 2023, triggered by cash dividend payments in accordance with the bond covenant.
Reflecting the dividend distribution into the bond terms, the exchange price was reduced from KRW 111,180 to KRW 110,033, increasing the total exchangeable shares based on unexercised principal from 20,126,911 shares to 20,336,717 shares.
From an investor’s perspective, key factual figures to review include the post-adjustment exchange price (KRW 110,033), the updated exchangeable share count, and the retroactive effective date of January 1, 2024.
📝 Editor’s Comment (by K-STOCK Editor)
This disclosure details the mechanical adjustment of the exchange price for SK Hynix’s foreign currency exchangeable bonds following a cash dividend event.
Pursuant to the bond agreement terms, the reduced exchange price of KRW 110,033 results in a recalculated potential exchangeable share count of 20,336,717 shares.
Accordingly, market participants can verify the quantitative changes, specifically the adjusted exchange price of KRW 110,033 and the revised share total provided in the original text.
📢 Disclaimer & Source Information
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