Feb. 5 (Asia Today) — K Bank has lowered its proposed offering price as it makes a third attempt at an initial public offering, betting that a stronger stock market and a deeper discount will help it clear investor demand.
According to the financial investment industry, K Bank is offering 60 million shares with a target fundraising range of 498 billion to 570 billion won (about $373 million to $427 million). The proposed price band of 8,300 to 9,500 won represents a 20.83% cut from the 12,000-won upper limit floated during its failed 2024 IPO attempt.
Lee Jun-hyung, the company’s chief financial officer, said the price was set at about a 20% discount and is “20% to 30% lower than peers such as Kakao Bank and Japan’s Rakuten Bank.”
Market attention is focused on whether K Bank can secure sufficient institutional demand this time. The book-building process, which began Tuesday, runs through Monday. Industry officials noted that participation often concentrates on the final day, making it too early to judge the outcome.
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If listed, K Bank plans to accelerate a non-interest income strategy centered on small businesses, platform services and digital assets. At an IPO press conference in Seoul, Chief Executive Officer Choi Woo-hyung said the bank aims to expand its retail base and open ecosystem while broadening its portfolio to include sole proprietors and small and medium-sized companies.
Choi also said the lender is preparing for future stablecoin-related business, citing its ongoing partnership with Upbit and internal development of blockchain technology, including patent filings.
Following a successful listing, K Bank plans to enhance shareholder returns. Choi said the bank is targeting a return on equity above 15% and will consider dividends or treasury share buybacks once it achieves a sustained double-digit ROE.
The IPO is being led by NH Investment & Securities and Samsung Securities, with Shinhan Investment Corporation participating in the underwriting syndicate. The listing is scheduled for March 5.
— Reported by Asia Today; translated by UPI
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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260205010002198
