K-Bank, the No. 1 Internet bank, eventually decided to withdraw its listing.

K-Bank, the No. 1 Internet bank, eventually decided to withdraw its listing.: COMPANY / Reporter Kim Jisun / 2023-02-03 03:07:07

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

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[Alpha Biz=(Chicago) Reporter Kim Jisun] K-Bank issued a statement on the 2nd and said, "We decided not to proceed with the listing within the deadline for recognizing the validity of the preliminary screening for listing in consideration of situations such as shrinking investor sentiment due to the internal and external environment."

K-Bank has been pushing for IPO in earnest since last year. On September 20 last year, it passed a preliminary review on the stock market (KOSPI) and has been preparing for listing.

In particular, K-Bank has dismissed market concerns since last year that the IPO could fall through due to weak investor sentiment stemming from the stock market recession. On the 2nd of last month, President Seo also announced at home and abroad that we have a firm listing plan by the end of this year, saying, "Let's make more efforts to increase our presence in the market in the future in addition to our prepared capabilities."

Unlike President Seo, major shareholders such as BC Card are said to have decided that it is too much to push for listing considering market conditions. In fact, the biggest reason is that K-Bank's ransom, which was mentioned up to 8 trillion won in the early days of the listing, was evaluated at less than 4 trillion won in the actual market.

However, K-Bank plans to continue to prepare IPO so that it can be listed quickly at any time depending on changes in market conditions. An official from K-Bank explained, "We will continue to prepare for IPO in consideration of internal and external market conditions and re-promote it in a timely manner."