KakaoBank of Korea announced a private placement of 100,000,000 shares at a price of KRW 5,000 per share for the gross proceeds of KRW 500,000,000,000 on August 11, 2017. The transaction will include participation from existing shareholders. Each shareholder will get 1.67 new shares per one existing share of the company.

The board of directors has approved the deal. The subscription will start on August 23, 2017 and will end on September 4, 2017. The transaction is expected to close on September 5, 2017.

The company reported total assets of KRW 283,020,394,543.