Toss Bank's Board Approves 300 Billion KRW Capital Increase

[Asia Economy Reporter Kwangho Lee] Toss Bank announced on the 25th that its board of directors has resolved to proceed with a 300 billion KRW paid-in capital increase.

Through this capital increase, a total of 60 million new shares will be issued, with a price of 5,000 KRW per share.

Of the 60 million shares, 45 million are common shares and 15 million are convertible shares. They will be allocated according to the existing shareholders' stockholding ratios.

The payment date is set for the 28th, and upon completion of the capital increase, Toss Bank's paid-in capital will increase from 250 billion KRW as of the 5th to 550 billion KRW.

Meanwhile, 12.5 million non-voting preferred shares held by Viva Republica will be converted into non-voting convertible shares.