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[Alpha Biz=(Chicago) Reporter Kim Jisun] K-Bank, the first Internet bank in Korea, will re-promote its initial public offering (IPO).
K-Bank said on its website on the 18th, "The board of directors decided to push for an initial public offering." K-Bank, which pushed for a KRW 10 trillion listing last year but gave up its IPO once as the capital market froze, is expected to take another challenge in about a year.
After announcing that it would pursue the IPO in January 2022, K-Bank passed a preliminary review of the stock market (KOSPI) in September of the same year and has been pushing for the listing. However, it withdrew its listing in February last year, judging that the stock market was sluggish due to a rise in interest rates and that it was difficult to be properly recognized.
While K-Bank hoped for a total of KRW 7 trillion in corporate value while listing, the capital market expected K-Bank to have an appropriate market capitalization of about KRW 4 trillion.
Kakao Bank's share price, which K-Bank's initial public offering price directly affects the calculation of the band, stood at the lowest price of 15,000 won in October 2022, shortly after K-Bank passed the preliminary screening for listing, but since then, the closing price was tallied at 28,500 won as of the 18th.
K-Bank offered investors a condition to be listed within five years at the time of the 1 trillion won paid-in capital increase in 2021.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
