Following this announcement, the financial institution is set to move forward with plans for an Initial Public Offering (IPO), targeting a corporate valuation of approximately USD 3.62 billion (KRW 5 trillion). This sum is similar to the valuation K-Bank aimed for during its previous IPO attempt, based on the upper end of the indicative price range, and the institution is reportedly seeking investors at that level again.
According to officials of the company, the goals of this initiative are to achieve a price-to-book ratio (PBR) of 2.2 times after the IPO, as the target valuation has been agreed upon by K-Bank’s largest shareholder, BC Card, and major financial investors. The institution is expected to continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
The IPO is expected to raise up to approximately USD 723 million (KRW 1 trillion), but the absence of foreign securities firms from the underwriting syndicate is considered unusual. In past IPO efforts, K-Bank has been consistently included foreign underwriters such as Bank of America, as the process of securing overseas demand became increasingly important with larger offerings.
Furthermore, officials of the bank also mentioned that they plan to file a preliminary listing review with the Korea Exchange in the second half of the year. This initiative is expected to accelerate K-Bank’s development process, as well as optimise its customers’ experience and the overall growth in the industry.
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