'Record-Breaking Performance' K Bank's Third Attempt at IPO
Resolution Passed at Board Meeting on the 12th
Internet bank K Bank held a board meeting on the 12th and resolved to pursue an initial public offering (IPO). This comes five months after withdrawing due to poor demand forecasting in October last year. This is the third attempt at an IPO.
K Bank recorded its highest-ever performance with a net profit of 128.1 billion won last year, indicating its intention to once again seek market evaluation.
K Bank must complete its listing by July next year. This is because there is a listing deadline promised to financial investors (FIs). If K Bank is not listed by July 2026, FIs can exercise tag-along rights and put options from July to October 2026.
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K Bank aimed for a listing after passing the preliminary review for the Korea Exchange market in September 2021. It hoped for a corporate value of about 7 trillion won but did not proceed with the public offering process. It attempted demand forecasting again in October last year but ultimately withdrew. The target corporate value at that time was up to 5.3 trillion won.
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