Industrial Bank of Korea announced that it expects to receive KRW 107.79999174 billion in funding from The Republic of Korea
June 10, 2020
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Industrial Bank of Korea (KOSE:A024110) announced a private placement of 12,412,204 shares at KRW 8,685 per share for gross proceeds of KRW 107,799,991,740 on June 11, 2020. The shares will be issued at par value of KRW 5,000. The transaction will include participation from existing investor, The Republic of Korea. The transaction will be made through third party allotment. The transaction is expected to close on June 26, 2020. The securities to be issued are subject to a hold period of one year. The transaction has been approved by the board of directors of the company.
Industrial Bank of Korea is a Korea-based company principally engaged in the bank business. The Company operates its business through five segments. The Private Customer segment involves in the provision of services include receiving and providing loans to individual customers, as well as private banking (PB) business. The Corporate Customer segment engages in the in the provision of services such as receiving and providing loans to corporate customers, import and export business. The Financial Market segment is involved in the settlement, management and investment of Korean won and foreign currency. The Investment Banking (IB) segment is involved the overseas business and investment business. The Other segment provides insurance services including life insurance, non-life insurance and third-party insurance.
INDUSTRIAL BANK OF KOREA 
