[DISCLOSURE]
Korea Investment and Securities (071050) announced on April 4 that it has decided to acquire 37.20 million share of its subsidiary Kakao Bank at 186.0 billion won (US$175.55 million) by participating in its capital raise.
This amounts to 4.5 percent of its equity capital and the due date for acquisition is April 25. It will own 50 percent stake in Kakao Bank.
By Hwang You-mee (
glamazon@heraldcorp.com)