KakaoBank Launches IPO Process... Board Resolves to Pursue IPO

Application for Auditor Designation and Selection Process of Lead Underwriter This Year
"Purpose of Securing Capital Expansion Means for Sustainable Growth"

[Asia Economy Reporter Jo Gang-wook] KakaoBank announced on the 23rd that it has resolved to pursue an initial public offering (IPO) at the board meeting held on the same day.

For the IPO, KakaoBank plans to apply for auditor designation and select an underwriting firm within this year. The market expects the listing to take place in the second half of next year.

KakaoBank explained, "The IPO pursuit is a means to secure capital for continuous growth."

KakaoBank, which started customer services on July 27, 2017, recorded 12.94 million customers, KRW 22.3159 trillion in deposits, and KRW 18.3257 trillion in loans as of the end of August this year.