[Alpha Biz=(Chicago) Reporter Kim Jisun] Kyobo Securities Co. said on the 22nd that it has decided to increase its paid-in capital worth 250 billion won to push for early approval of a comprehensive financial investment operator.

Kyobo Securities held a board meeting on the same day and decided to issue a paid-in capital increase of 49,309,665 ordinary shares with a issuance price of 5,070 won for Kyobo Life Insurance, the largest shareholder. The subscription date for the new shares is 29th of this month, the payment date is 30th, and the listing date is September 20th.

The capital increase is the first in three years since June 2020 (200 billion won). Kyobo Securities Co.'s equity capital thus rose about 15.5 percent to 1.8679 trillion won from 1.6179 trillion won as of the end of the second quarter. The net capital ratio, an indicator of capital soundness, will also improve from 717.1 percent to 902.4 percent over the same period.

Kyobo Securities plans to use the funds secured through the paid-in capital increase to strengthen its competitiveness in corporate finance (IB) and asset management businesses and advance into new digital finance businesses.

 

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