Large IB deal flow expands after May capital raise

The headquarters of Woori Investment Securities in Yeouido, Yeongdeungpo-gu, Seoul. [Woori Investment Securities]
The headquarters of Woori Investment Securities in Yeouido, Yeongdeungpo-gu, Seoul. [Woori Investment Securities]

Woori Investment Securities has been steadily winning large investment banking mandates since a paid-in capital increase in May, expanding its corporate finance and structured finance operations.

Woori Investment Securities said Monday it had sole-managed a 150 billion won ($112 million) hybrid capital securities securitization for Ecopro in September and has since secured a sole mandate for a 120 billion won hybrid capital securities securitization for Osstem Implant. The Osstem Implant transaction is expected to close this month.

Earlier, in June, Woori Investment Securities arranged 600 billion won in acquisition financing for Ulsan GPS and SK Multiutility. The firm also sole-arranged a total of 280 billion won in financing across two tranches to meet SK Eternix's funding needs arising from a business restructuring, and sole-arranged 120 billion won in corporate financing for Ecopro's Indonesian subsidiary.

The growing pipeline of large IB mandates has translated into improved earnings. Woori Investment Securities' cumulative IB-related fees and commissions through the third quarter of this year reached 67.2 billion won, up 163.5 percent from the same period last year — a result the firm attributed to increased deal flow following its 1 trillion won capital raise in May.

Since launching full-scale brokerage operations in March last year, Woori Investment Securities has positioned investment banking as a core growth engine. The firm plans to provide tailored financial solutions targeting corporate funding needs, with a focus on national strategic industries such as AI and secondary batteries.

"Designing the optimal financial structure for each company's strategy and circumstances, and executing it successfully, is the core competency of investment banking," a Woori Investment Securities official said. "We will continue to provide timely, customized and comprehensive financial solutions to companies in national strategic industries such as AI and secondary batteries, and to innovative enterprises, as we grow into a top-tier investment bank."


hajun825@heraldcorp.com