Kakao Bank submits a securities report… August Listed on the KOSPI (comprehensive) :: Gonggyong Media News Agency ::

General subscription for two days from July 26th to 27th


[서울=뉴시스] Reporter Jay Kim = Kakao Bank announced on the 28th that it would submit a securities declaration for listing on the KOSPI to the Financial Services Commission and issue 65.45 million new shares through a general public offering.

The desired range for the public offering price is 33,000 to 39,000 won, and the amount of the offering is from a minimum of 2.159.8 trillion won to a maximum of 2.552.5 billion won. With the issuance of new shares, the total number of shares after listing is 475.1 million.

Kakao Bank will conduct demand forecasting for domestic and overseas institutional investors until July 21st. After receiving general subscriptions for two days from the 26th to the 27th of the same month, new stocks are scheduled to be listed on August 5th. The main organizers are KB Securities and Credit Suisse.

Kakao Bank has secured 1 million account opening customers within 5 days of opening a customer service since July 2017. In July 2019, two years after opening, the number of customers exceeded 10 million, and as of the end of May this year, the total number of customers was 16.53 million.

In the past year, the number of new customers in their 50s and older has increased, with 30% of new account opening customers in their 50s and older, accounting for 15% of the total number of customers.

Based on this increase in customers, the monthly active users (MAU) of the Kakao Bank mobile app rose to the first place in 2019. According to Nielsen Media, as of March of this year, MAU was 13.35 million.

In the first quarter of this year, operating revenue and operating profit were 224.9 billion won and 53.9 billion won, respectively. Net income was 46.7 billion won.

A Kakao Bank official said, “The funds raised through this listing will be used to secure the capital adequacy required for the launch of new products and services, such as expanding credit loans for low- and medium-credit customers and mortgage loans.”

In addition, Kakao Bank plans to invest 350 billion won in securing excellent manpower, innovating customer experience, upgrading credit evaluation models, expanding infrastructure for consumer protection, research and development of financial technology, and acquisitions and mergers of fintech companies.

On the other hand, Kakao Bank has been steadily gaining popularity in the over-the-counter market as news of its listing is known, and as of the same day, it is traded at 94,000 won on Securities Plus unlisted.

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