‘Third-Time IPO Challenger’ K Bank Sets Offering Price at 8,300 Won...Listing Scheduled for the 5th of Next Month [fn Market Watch]

[Financial News] K Bank has finalized its Initial Public Offering (IPO) price on its third attempt to go public.
On the 13th, K Bank announced that it had set the final offer price at 8,300 won, the bottom of its desired range of 8,300 to 9,500 won.
Earlier, from the 4th to the 10th, K Bank conducted a five-day book-building process for domestic and overseas institutional investors.
In this book-building, a total of 2,007 institutions participated and applied for approximately 6.55 billion shares. The competition ratio came to 199 to 1, with total orders reaching about 58 trillion won.
Based on the finalized offer price of 8,300 won, the total amount to be raised is 498 billion won, and K Bank’s market capitalization after listing is expected to be 3.3673 trillion won.
K Bank plans to use the capital increase to secure capacity for more than 10 trillion won in new lending, thereby accelerating its push for innovative financial services.
In particular, the bank intends to use the IPO proceeds to enter the market for sole proprietors and small and medium-sized enterprises (SMEs), strengthen its technology leadership, build a platform-based business, and make focused investments in new businesses including digital assets.
K Bank CEO Choi Woo-hyuk stated, "Even after the listing, K Bank will continue to grow together with both customers and shareholders, while delivering differentiated value."
Meanwhile, subscriptions for retail investors will be held over two days, on the 20th and 23rd, for up to 30% of the total offering, or 18 million shares. Individual investors can subscribe through the lead managers NH Investment & Securities and Samsung Securities, as well as through underwriter Shinhan Investment & Securities. After completing the retail subscription, K Bank is scheduled to list on the KOSPI market on the 5th of next month.

kakim@fnnews.com Kim Kyung-a Reporter