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K-Bank Headquarters Overview. (Photo: K-Bank) |
[Alpha Biz= Kim Sangjin] K-Bank Withdraws KOSPI Listing Due to Market Slump, Marking Second Postponement
K-Bank, South Korea’s first internet-only bank, announced the withdrawal of its planned KOSPI listing, citing the sluggish stock market as the reason. This marks the second postponement after 2023.
The bank stated on Wednesday, "Due to increased domestic and international uncertainties and the poor market conditions, it has become difficult to properly assess our corporate value, leading to the decision to delay the listing."
K-Bank initially prepared for its listing in 2022 but postponed it in February 2023 due to a weakened investor sentiment. The bank later passed the KOSPI preliminary review in August 2023 and aimed to go public by the end of October that year. However, after a disappointing demand forecast, the IPO was rescheduled for early this year. Despite this, the listing was ultimately canceled again.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
