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Photo courtesy of K Bank |
[Alpha Biz= Kim Jisun] Institutional demand reaches KRW 58 trillion as internet bank prepares for KOSPI debut
K Bank has finalized its initial public offering (IPO) price at KRW 8,300 per share, in line with the lower end of its previously announced price range of KRW 8,300–9,500.
Based on the confirmed offering price, total proceeds will amount to KRW 498 billion, and the company’s market capitalization upon listing is expected to reach approximately KRW 3.3673 trillion.
The IPO pricing follows a five-day bookbuilding process conducted from Feb. 4 to Feb. 10, targeting domestic and overseas institutional investors. A total of 2,007 institutions participated, submitting orders for approximately 6.55 billion shares, resulting in a competitive ratio of 199-to-1. Total order demand reached roughly KRW 58 trillion.
K Bank is seeking a listing on the KOSPI. The total offering consists of 60 million shares. At the top end of the indicative range, the offering could have raised up to KRW 570 billion.
Retail subscription will cover up to 30% of the total offering (18 million shares) and will take place on Feb. 20 and Feb. 23. Retail investors can participate through the lead underwriters, NH Investment & Securities and Samsung Securities, as well as co-manager Shinhan Investment Corp. The company plans to begin trading on March 5.
K Bank said it aims to use the capital increase to secure more than KRW 10 trillion in additional lending capacity, accelerating innovation in financial services. The bank plans to focus investment on expansion into the SME (small and medium-sized enterprise) segment, strengthening technology leadership, building a platform-based business model, and pursuing new growth areas such as digital assets.
CEO Choi Woo-hyung stated, “We sincerely appreciate investors who have shown confidence in K Bank’s vision. Even after listing, we will continue to grow alongside both customers and shareholders, delivering differentiated value.”
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
