[Korea Selected financial newspaper reporters] are KB Financial Group was chujinkiro a 100% wholly owned subsidiary incorporated in KB and KB Insurance Capital.
KB Financial Group today announced the decision after pushing through a wholly owned subsidiary incorporated line tender offer for 14 days of KB and KB Insurance Council held an afternoon and subsidiaries Capital Common shares Stock Exchange for the remaining shares.
KB Financial Group holds a 39.81% stake in the current stake of 52.02% of capital stock-listed company, KB KB Insurance.
Tender prices KB life insurance is 17.9% higher than Wednesday closing price per share 33,000 won. Further KB Capital high of 7.8% compared to Wednesday closing price per share 27,500 won.
Tender offer period which will run from the 17th of next month to May 12.
After the tender offer for the remaining shares will terminate proceed with KB Financial stock and stock exchanges. Exchange rate KB life insurance can usually exchange one share of KB Financial 0.5728700 shares, KB, KB Financial 0.5201639 per share Capital.
If that comes to pass its agenda at the upcoming KB Insurance and extraordinary shareholders' meeting of KB Capital, June 15th will be exchanged on July 3 shares. Since KB KB Insurance and Capital delisted and incorporated as a wholly owned subsidiary of KB Financial Group.
KB Financial Group is expected to hold treasury shares that are existing without the rights issue take advantage of to prevent the KB Financial stock value when stock exchanges in progress dilution.
KB Financial Group official said, "was to promote the public tender and the stock exchange in order to give the best option of all stakeholders while promoting the expanded equity affiliates at the same time," he said.
The two companies wholly owned subsidiary incorporated promotion is interpreted as a strategic move to strengthen the non-banking sector of KB Financial Group.
KB Financial was incorporated in the last 3 May 2014 KB Capital's acquisition of Woori Financial, June 2015 wolen subsidiary LIG Insurance Insurance to KB. In May 2016 it has acquired a modern securities through a stock exchange for the remaining shares incorporated as a wholly owned subsidiary and KB launched an integrated securities.
KB Financial Group official said, the share of non-banking sector in the financial situation of saying 'Group' KB Insurance and KB Capital when the full consolidated financial statements based on management performance, the companies performance is reflected 100% of the groups' net profit of about to rise to 43%, based on the level of about 24% of total assets (end of 2016 based on a simple summation) is equipped with a balanced position as a comprehensive financial group, "he said.
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