K bank to start three-day presentation competition to select underwriters Four domestic investment banks and six foreign brokers likely to participate
Translated by Kim So-in 공개 2022-01-27 07:59:07
이 기사는 2022년 01월 27일 07:58 thebell 에 표출된 기사입니다.
South Korea’s digital lender K bank, which recently received proposals from investment banks, will start a three-day presentation competition to select firms to handle its initial public offering (IPO).It is said four Korean mega-sized investment banks and foreign brokerage firms will make presentations. The digital lender’s IPO has attracted strong attention amid big success of Kakao Bank’s market debut last year.
Presentations will be held for three days from Wednesday to Friday, said industry sources. The digital lender decided to hold the process only two days after it received proposals from banks. K bank seems to speed up the IPO process as it aims to go public within this year and file for a preliminary review in the first half.
Given that presentation competition usually takes two days, K bank decided to take time selecting its underwriters by sufficiently reviewing their strategies so that it can get a higher valuation. Presentations will also give the digital bank opportunities to get consulting about its future business strategies.
Domestic and foreign investment banks are drawing up strategies to make presentations. “They continue to review their presentation strategies until the last minute, mulling whether their top executives will attend the presentations in person.”
Four top-ranked domestic securities firms – Mirae Asset Securities, Samsung Securities, NH Investment & Securities and Shinhan Investment – and six foreign investment banks are expected to participate in the presentation competition.
Industry sources expect NH Investment & Securities to be the strongest candidate to get selected. The brokerage firm is one of the major shareholders of K bank, with a 4.84% stake. The broker’s stake in the digital bank decreased from 10% as it decided not to participate in K bank’s rights offering last year.
Investment banking sources expect K bank’s corporate value to be about 10 trillion won after the listing. Methodology of calculating the value will likely be the main issue at the presentations as K bank has different profit structure from its peers. The lender is highly likely to benchmark another internet-only bank Kakao Bank, which went public last year.
The digital bank turned profitable last year, recording a net profit of 8.4 billion won on revenue of 190.2 billion won in the first three quarters of 2021. In 2020, it generated a net loss of 105.4 billion won on revenue of 105.4 billion won. (Reporting by Sang-won Lee)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 수출입은행, 상반기 출자사업에 14곳 출사표
- 카카오, 2억달러 교환사채 발행 '공식화'
- [Red & Blue]수급 몰리는 피제이메탈, 알루미늄 시세 급등 '수혜'
- 이에이트, 가천대·길병원과 '디지털 트윈 병원' 구축 MOU
- [멀티플렉스 재무 점검]베트남만 남은 롯데시네마 해외사업
- [뮤지컬 제작사 열전]EMK컴퍼니, 고속성장 비결은 '대기업과 10년 동맹'
- 모트롤 인수 추진하는 두산그룹, 3년 전과 달라진 건
- [LG화학의 변신]패착된 NCC 증설, 자산 유동화 '제값 받기' 관건
- [캐시플로 모니터]포스코인터 '조단위 투자' 거뜬한 현금창출력
- [항공사 기단 2.0]'공격 확대' 에어프레미아·이스타, 매출·리스 줄다리기