[Asia Economy Reporter Moon Hyewon] K-Bank, which is pursuing a listing, did not submit the securities registration statement on the 6th, raising a strong possibility of postponing its initial public offering (IPO) schedule earlier this year.
According to the financial investment industry, K-Bank has not submitted the registration statement by the effective submission deadline on this day.
The reason K-Bank must submit the registration statement by this day is due to the so-called '135-day rule.' This rule requires that when conducting a public offering targeting overseas institutional investors, the listing schedule must be completed within 135 days from the reference date of the financial statements included in the Overseas Offering Circular (OC).
Applying this rule, K-Bank must complete the listing schedule, including payment of subscription funds, by mid-February, which is 135 days from the fiscal year-end at the end of September. Counting backward the necessary period means that this day was effectively the deadline for submitting the securities registration statement.
A market insider explained, "For a large entity like K-Bank, overseas institutional investors need to participate for the public offering to be successful. After today, overseas investors cannot participate in the offering, so it becomes difficult to complete the listing within the validity period of the preliminary review, which is until March 20."
A K-Bank official said, "There is no change in the pursuit of the listing," adding, "We will decide the listing schedule after comprehensively reviewing market conditions and other factors."
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