Forecast Recovers 181.5 Billion KRW Through Seoul Guarantee Insurance IPO
The Korea Deposit Insurance Corporation announced on the 10th that it has recovered 181.5 billion KRW of public funds through the initial public offering (IPO) of Seoul Guarantee Insurance on the KOSPI market.
Seoul Guarantee Insurance sold 10% (6,982,160 shares) of the total issued shares from the 93.85% stake held by KDIC through the listing, and completed the allocation and payment collection for the subscription shares on the same day. After the sale, KDIC's stake stands at 83.85%.
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A KDIC official stated, "Although this IPO was conducted entirely through a secondary share sale, the demand forecast from institutional investors and the subscription from general investors were successfully completed," adding, "As a major shareholder, we will fulfill our role to ensure that Seoul Guarantee Insurance faithfully implements its shareholder return policies and management efficiency measures promised to investors, thereby enhancing corporate value."
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