Seoul Guarantee Insurance announced that it has submitted a securities report for listing on the stock market and has entered into full-scale public offering procedures.
Through this public offering, Seoul Guarantee Insurance plans to sell 6,982,160 shares, which corresponds to 10% of the stake (93.85%) held by the largest shareholder, Korea Deposit Insurance Corporation (CEO Jae-Hoon Yoo). The desired public offering price per share has been set at 26,000 won to 31,800 won, and the total public offering size is expected to reach 181.5 billion won to 222 billion won.
Seoul Guarantee Insurance plans to conduct a Deal Roadshow (hereinafter referred to as 'DR') targeting domestic and foreign investors from early February with the Korea Deposit Insurance Corporation, aiming for a listing on the stock market in March. Demand forecasting targeting institutional investors will be conducted from February 20 to 26, and general subscription for public offering shares will be conducted for two days on March 5 and 6. The joint lead managers are Mirae Asset Securities and Samsung Securities.
In addition, Seoul Guarantee Insurance established a mid-term shareholder return policy through a board meeting on the 23rd. The company has been implementing a highly reliable dividend policy, such as paying dividends for 13 consecutive years while maintaining a dividend payout ratio of over 50%, and plans to increase its attractiveness as a dividend stock through an active shareholder return policy in the future. The 2024 fiscal year dividend has been confirmed at KRW 200 billion, and a dividend yield of approximately 10% is guaranteed based on the desired public offering price. In addition, it plans to guarantee a total shareholder return amount of KRW 200 billion annually for the next three years (2025-2027).
Seoul Guarantee Insurance announced that it will continue to strive to increase corporate value and improve management efficiency through this listing and shareholder return policy. The Korea Deposit Insurance Corporation plans to set Seoul Guarantee Insurance's appropriate market value through this IPO and establish a foundation for recovering public funds.
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