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Hive will repay 400 billion won worth of convertible bonds due to investors' exercise of put options.
According to the Korea Securities Depository on the 9th, 99.95% of investors in convertible bonds issued by Hive in 2021 exercised put options.
This means that investors have abandoned the stock conversion, judging that Hive's stock price will be difficult to rise further.
Accordingly, Hive will have to repay 399.8 billion won on the 5th of next month, the first early repayment date.
The reason why the rate of exercise of put options is overwhelmingly high is that the stock price has dropped significantly compared to the time of issuance of convertible bonds. The convertible bond had a surface interest rate of 0%, and the stock price had to exceed the conversion price of 385,500 won to make a profit. However, the current stock price is around 170,000 won.
Hive's consolidated cash equivalents in the first half of this year were 324.1 billion won, making it difficult to repay 400 billion won in cash. In response, it plans to issue another convertible bond worth 400 billion won to refinance it.
[Copyright holder (c) YTN Unauthorized reproduction, redistribution and use of AI data prohibited]
According to the Korea Securities Depository on the 9th, 99.95% of investors in convertible bonds issued by Hive in 2021 exercised put options.
This means that investors have abandoned the stock conversion, judging that Hive's stock price will be difficult to rise further.
Accordingly, Hive will have to repay 399.8 billion won on the 5th of next month, the first early repayment date.
The reason why the rate of exercise of put options is overwhelmingly high is that the stock price has dropped significantly compared to the time of issuance of convertible bonds. The convertible bond had a surface interest rate of 0%, and the stock price had to exceed the conversion price of 385,500 won to make a profit. However, the current stock price is around 170,000 won.
Hive's consolidated cash equivalents in the first half of this year were 324.1 billion won, making it difficult to repay 400 billion won in cash. In response, it plans to issue another convertible bond worth 400 billion won to refinance it.
[Copyright holder (c) YTN Unauthorized reproduction, redistribution and use of AI data prohibited]
Economy
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