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POSCO Holdings (PKX) lowers exchangeable bond price, increasing share entitlement

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

POSCO HOLDINGS INC. is adjusting the exchange price on its foreign currency denominated exchangeable bonds issued on September 1, 2021, following a cash dividend. The exchange price changes from KRW 419,025 to KRW 414,343, effective August 25, 2026.

The total par value of unexercised bonds remains KRW 36,864,672,000, but the number of POSCO Holdings shares available for exchange increases from 87,977 to 88,971. The adjustment is calculated under the bond terms using a formula that reflects the per-share cash dividend relative to the current market price.

Positive

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Negative

  • None.
Pre-adjustment exchange price KRW 419,025 Exchange price on foreign currency denominated exchangeable bonds before adjustment
Post-adjustment exchange price KRW 414,343 Exchange price on exchangeable bonds effective August 25, 2026
Par value of unexercised bonds KRW 36,864,672,000 Total par value (electronic registration) of non-exercised securities
Shares exchangeable before adjustment 87,977 shares Number of POSCO Holdings shares available for exchange before price adjustment
Shares exchangeable after adjustment 88,971 shares Number of POSCO Holdings shares available for exchange after price adjustment
Effective date of new price August 25, 2026 Date from which the adjusted exchange price applies
Bond issue date September 1, 2021 Issue date of the foreign currency denominated exchangeable bonds
exchange price financial
"Adjustment of exchange price following cash dividend of POSCO HOLDINGS INC."
foreign currency denominated exchangeable bonds financial
"Class of Bonds | Foreign currency denominated exchangeable bonds (Issued September 1, 2021)"
preemptive rights financial
"Adjustment of Conversion Price, Exercise Price of Preemptive Rights, and Exchange Price"
electronic registration financial
"Total par value (electronic registration) of non-exercised securities (KRW)"
cash dividends financial
"Adjustment of the exchange price following cash dividends of POSCO HOLDINGS INC."

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FAQ

What exchange price change did POSCO Holdings (PKX) disclose?
POSCO Holdings disclosed an exchange price reduction on its exchangeable bonds from KRW 419,025 to KRW 414,343. This adjustment is tied to a cash dividend and affects how many shares bondholders receive upon exchange.

Which securities are affected by POSCO Holdings (PKX) exchange price adjustment?
The change affects foreign currency denominated exchangeable bonds issued on September 1, 2021. These bonds are exchangeable into POSCO Holdings shares, and the adjusted exchange price modifies the share count deliverable upon exchange.

How does the adjustment affect the number of POSCO Holdings (PKX) shares on exchange?
The number of shares available for exchange rises from 87,977 to 88,971. This increase results from the lower exchange price, applied to the same total par value of KRW 36,864,672,000 in unexercised bonds.

When does the new exchange price for POSCO Holdings (PKX) bonds take effect?
The adjusted exchange price of KRW 414,343 becomes effective on August 25, 2026. Exchanges occurring on or after this date will use the new price under the bond terms.

Why did POSCO Holdings (PKX) adjust the exchange price on its bonds?
The company cites an adjustment following a cash dividend of POSCO Holdings Inc. Under the bond conditions, events such as cash dividends require recalculating the exchange price to reflect the value distributed to shareholders.

What is the formula POSCO Holdings (PKX) uses for the exchange price adjustment?
The bonds use a dividend-based formula: post-adjustment price = pre-adjustment price × [(current market price − cash dividend per share) ÷ current market price]. This maintains consistency between bondholder and shareholder value after dividends.
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August, 2026

Commission File Number: 1-13368

 

 

POSCO HOLDINGS INC.

(Translation of registrant’s name into English)

 

 

POSCO Center, 440 Teheran-ro, Gangnam-gu, Seoul, Korea, 06194

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

 

 
 

Adjustment of Conversion Price, Exercise Price of Preemptive Rights, and Exchange Price

 

   
1. Type    Adjustment of exchange price
   
2. Class of Bonds   

Foreign currency denominated exchangeable bonds

 

(Issued September 1, 2021)

   

•

Listing of Warrants

    Not applicable
       
3. Details of
Adjustment		    Series No.     Pre-adjustment price (KRW)    Post-adjustment price (KRW)
  

 

-

   

 

419,025 

        

 

414,343 

         
4. Changes in Securities    Series No.     Total par value (electronic registration) of non-exercised securities (KRW)    Number of shares available for conversion, exercise, and exchange before adjustment (shares)    Number of shares available for conversion, exercise, and exchange after adjustment (shares)
  

 

-

   

 

36,864,672,000 

   

 

87,977 

   

 

88,971 

   
5. Reasons for Adjustment    Adjustment of exchange price following cash dividend of POSCO HOLDINGS INC.
   
6. Basis and Method for
Adjustment		   

1) Grounds for adjustment: Adjustment of the exchange price following cash dividends

 

•

In the event of any reasons for adjustment of the exchange price, such as capital increase without consideration, stock split, reverse stock split, change of stock class, issuance of options or warrants to shareholders, stock dividends, cash dividends, issuance of new shares below market price, etc., the exchange price will be adjusted according to the relevant bond conditions.

 

2) Method of adjustment

 

Post adjustment adjusted price = Pre adjustment adjusted price x [(*Current market price - Cash dividends equivalent to 1 share)/*Current market price]

   
7. Effective Date of Adjusted Price    August 25, 2026
   
8. Date of Board Resolution (Decision Date)    -

   

9. Other references useful for 

making investment decisions

   

•

‘Total par value (electronic registration) of non-exercised securities (KRW)‘of ‘4. Changes in Securities’ above was converted into KRW by applying the standard exchange rate (standard exchange rate of 1,360.32 EUR/KRW announced by Seoul Foreign Exchange Brokerage Co., Ltd. on August 13, 2021).

 

•

‘Current market price’ of ‘6.2 Method adjustment’ above means the amount obtained by taking an arithmetic average of the closing prices of 20 trading days until the immediately preceding trading day, including the immediately preceding trading day of the date started, with the trading day immediately preceding the date of disclosure of the initial dividend being the date started.

 

•

Above ‘7. Effective Date of Adjusted Price’ will take effect on August 25, 2026 which is immediately after the record date for the 2nd quarter 2026 (August 24, 2026).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

      POSCO HOLDINGS INC.
      (Registrant)
Date: August 7, 2026     By  

/s/ HAN, Young Ah

      (Signature)
      Name: HAN, Young Ah
      Title: Executive Vice President

Source: View Original Filing on SEC EDGAR