KakaoBank's Additional 250 Billion Won Paid-in Capital Increase... Total Over 1 Trillion Won by Next Month
[Asia Economy Reporter Kim Hyo-jin] KakaoBank announced on the 17th that it held a board meeting in the afternoon and resolved a third-party allotment of common stock rights offering worth 250 billion KRW. The issued shares amount to 10.64 million shares, with a price of 23,500 KRW per share.
The stock allocation target is the Hong Kong-based private equity fund Anchor Equity Partners. Anchor Equity has been active mainly in China and other regions since its establishment in 2012.
Including the rights offering worth 750 billion KRW on the 27th of last month, the total amounts to about 1 trillion KRW. TPG Capital paid 250 billion KRW on the 12th of this month. Anchor Equity's payment date is the 7th of next month. Existing shareholders' payment date is the 29th of next month.
After completing the rights offering, the expected paid-in capital by the end of next month will increase by about 1 trillion KRW from the end of last month, reaching 2.8256 trillion KRW.
KakaoBank, considered the biggest IPO candidate next year, recently sent Request for Proposal (RFP) documents to major domestic and international securities firms for the selection of IPO underwriters.
KakaoBank recorded a net profit of 40.6 billion KRW in the third quarter of this year, which is seven times the 5.8 billion KRW recorded in the same period last year. The cumulative net profit for the third quarter reached 85.9 billion KRW.
Although KakaoBank posted a loss of 1.7 billion KRW in the fourth quarter of last year, it has been growing with net profits of 18.5 billion KRW in the first quarter and 26.8 billion KRW in the second quarter of this year.
Hot Picks Today
"Now Our Salaries Are 10 Million Won a Month" Record High... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- Living the Homebody Dream? "I Was Shocked by My Spending" How to Cut Costs to 5,000 Won for Essentials [The Principles of Benefits]
- Is It Really Like an Illness? "I Can't Wait to Go Again"—Over 1 Million Visited in Q1, Now 'Busanbyeong' Takes Hold [K-Holic]
- "Heading for 2 Million Won": The Company the Securities Industry Says Not to Doubt [Weekend Money]
- Experts Already Watching Closely..."Target Price Set at 970,000 Won" Only Upward Momentum Remains [Weekend Money]
As of the end of September, KakaoBank's loan balance stood at 18.73 trillion KRW. The loan increase during the third quarter was 1.39 trillion KRW, and total assets amount to 25 trillion KRW. As of the end of last month, the bank has secured approximately 13.26 million customers.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
