K Bank Resolves 600 Billion KRW Paid-in Capital Increase... Expanding Capital to 1.1 Trillion KRW
[Asia Economy Reporter Kwon Haeyoung] Internet-only bank K Bank has decided to proceed with a paid-in capital increase worth 600 billion KRW. Upon completion of the capital payment, the total capital will be expanded to 1.1 trillion KRW, which is expected to revitalize K Bank's loan operations that have been at a standstill.
On the 6th, K Bank held a board meeting and announced on the 7th that it resolved to issue approximately 118.98 million common shares worth 594.9 billion KRW in new shares. The capital payment date has been set for June 18.
The paid-in capital increase will be allocated to existing shareholders according to their current shareholding ratios, and in the event of forfeited shares, major shareholders will divide and subscribe to them.
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As of the 6th, K Bank's capital stands at approximately 505.1 billion KRW. Upon completion of this capital increase payment, the capital will expand to 1.1 trillion KRW.
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