FSS Puts a Break on Hyundai Motor Securities Rights Offering

• After the market close on 12 December, the Financial Supervisory Service (FSS) put a break on Hyundai Motor Securities’ rights offering worth 200 billion won.

• The proposed rights offering included issuing 30.1 million new shares, representing 95% of its current outstanding shares (31.7 million).

• We would try to capitalize on the short term bullish upside on its shares of Hyundai Motor Securities and sell into strength.