IBK Insurance Co., Ltd. announced that it has received KRW 15 billion in funding from Industrial Bank of Korea
December 29, 2020
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IBK Insurance Co., Ltd. announced a private placement of 30,000,000 shares at an issue price of KRW 500 per share for gross proceeds of KRW 150,000,000,000 on December 30, 2020. The transaction included participation from returning investor Industrial Bank of Korea (KOSE:A024110) The shares were issued pursuant to shareholders' allocation increase method. The transaction has been approved by board of directors of the investor.
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.