S.Korea's KakaoBank board approves plan to pursue IPO

Credit: REUTERS/THOMAS WHITE

South Korean online lender KakaoBank Corp on Wednesday said its board approved an initial public offering, adding that it plans to appoint auditors and underwriters within the year.

SEOUL, Sept 23 (Reuters) - South Korean online lender KakaoBank Corp on Wednesday said its board approved an initial public offering, adding that it plans to appoint auditors and underwriters within the year.

The company, whose top shareholder is messaging app operator Kakao Corp 035720.KS, said the flotation aims to secure assets for sustainable growth.

(Reporting by Heekyong Yang, editing by Louise Heavens)

((Heekyong.Yang@thomsonreuters.com; +82 2 6936 1470;))

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