Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (Woori Financial Group Inc.) covers the month of December 2004. The report specifically addresses the conversion of outstanding convertible bonds issued on March 26, 2003.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, or liquidity ratios. The document focuses exclusively on capital structure changes related to bond conversions.
- Cumulative Shares Converted: 8,661,914 shares
- Total Shares Issued (Company-wide): 784,742,473 shares
- Conversion Percentage: 1.1% of total shares issued
- Total Conversion Value: Approximately US $39 million (US $3 million and US $36 million in separate requests)
- Exchange Rate Applied: Won 1,194.90 per US Dollar (fixed at bond issuance)
Material Changes Versus Prior Period
The material change reported is the reduction of outstanding convertible debt and the corresponding increase in equity through share issuance. Two specific conversion requests were processed:
- November 4, 2004 Request: Converted US $3 million of Overseas Convertible Bonds (Series 6) into 666,301 shares at a price of 5,380 Won per share.
- December 2, 2004 Request: Converted US $36 million of Overseas Convertible Bonds (Series 6) into 7,995,613 shares at a price of 5,380 Won per share.
Outlook, Risks, and Contingencies
The filing notes that the listing date for the newly converted shares may change depending on related parties. No specific management commentary, forward-looking guidance, or new risk factors were disclosed in this report.
Remaining Convertible Bond Balance: The filing details the unconverted balance for Series 6 bonds across different tranches (6-1, 6-2, 6-4, 6-5), totaling approximately 13.27 million shares convertible at various prices ranging from 5,380 to 7,313 Won.
Investor Verification Checklist
- Verify the exact listing date for the 8,661,914 newly issued shares, as the filing states this may vary.
- Confirm the impact of the 1.1% share increase on existing shareholder dilution.
- Review the remaining balance of Series 6 convertible bonds to assess future conversion potential.
- Check subsequent filings for the actual listing dates of the converted shares.