South Korea's KBank to withdraw IPO plan, source says (updated)

KakaoBank

18/10/2024 06:16

(Adds context)
       SEOUL, Oct 18 (Reuters) - South Korean online lender
KBank will withdraw its plan for an initial public offering, a
person briefed on the matter said on Friday.
    A KBank spokesperson declined to comment. 
    This is the second time KBank's IPO plan has been scuppered,
after it decided in February 2023 to postpone an earlier listing
plan because of weak investor confidence, the online lender
previously said.

 (Reporting by Heekyong Yang and Joyce Lee; Editing by
Christopher Cushing)
 ((joyce.lee@tr.com;))