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Photo: Kbank |
[Alpha Biz= Kim Jisun] K Bank announced on the 13th that it has submitted a securities registration statement to the Financial Services Commission for an initial public offering (IPO) on Korea’s main stock market, the KOSPI.
The bank plans to offer 60 million shares, a reduction of 22 million shares from the 82 million shares outlined in its previous filing. The indicative IPO price range has been set at KRW 8,300 to KRW 9,500 per share, lowered from the earlier range of KRW 9,500 to KRW 12,000.
“K Bank has adjusted the offering terms to better reflect current market conditions, lowering the price range by approximately 20% compared to the previous IPO attempt,” the company said.
Retail investors will be able to subscribe to the IPO through NH Investment & Securities and Samsung Securities. The subscription period is scheduled for February 20 and 23. The institutional demand forecasting process will take place from February 4 to 10, after which the final offering price will be determined.
Subject to successful pricing, K Bank is expected to be listed on March 5.
If all offered shares are fully subscribed, the company expects to raise between KRW 498 billion and KRW 500.7 billion. Based on the upper end of the indicative price range, K Bank’s post-listing market capitalization is projected to reach approximately KRW 4 trillion.
The underwriters selected KakaoBank and Japan’s Rakuten Bank as comparable companies. Based on peer valuation, K Bank’s indicative IPO price implies a price-to-book ratio (PBR) of 1.38 to 1.56 times. KakaoBank’s shares are currently trading at KRW 21,500.
K Bank plans to use the IPO proceeds to expand into the small and medium-sized enterprise (SME) lending market, strengthen technological differentiation, build a platform-based business model, and invest in new growth areas including digital assets.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
