K-Bank Approves Issuance of Convertible New Shares Worth 157.4 Billion KRW
[Asia Economy Reporter Moon Hyewon] K Bank's board of directors held a meeting on the 19th and approved the issuance of convertible new shares worth approximately 157.4 billion KRW.
On the 8th of next month, new shares will be allocated according to each shareholder's stake, and in case of forfeited shares, major shareholders will be able to subscribe to them collectively. The payment deadline for the capital contribution is scheduled for the 28th of the same month.
The 594.9 billion KRW paid-in capital increase resolved in April will be addressed in a board meeting next month, allocating 239.2 billion KRW to the three major shareholders?BC Card, Woori Bank, and NH Investment & Securities?while the remainder will not be issued.
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Accordingly, K Bank is expected to raise a total capital of 901.7 billion KRW next month.
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