K Bank Pulls IPO Due to Weak Demand, Eyes Restart
- $700 million-plus IPO would’ve been Korea’s largest since 2022
- K Bank’s first-half net income tripled from year ago
The K Bank Co. app.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Online lender K Bank Co. has withdrawn its $700 million-plus initial public offering in Seoul amid concerns over high valuation and dependency on a cryptocurrency operator for its funding.
K Bank failed to generate enough demand for listing during the recent bookbuilding, the Seoul-based company said in a regulatory filing on Friday. The lender plans to revive the IPO early next year after changing details such as the number of shares on offer, the company said in a separate statement.