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KakaoBank of Korea to raise 500B won via rights offering

KakaoBank of Korea Corp. will issue 100,000,000 rights shares to raise 500 billion won from existing shareholders on Nov. 21.

The South Korean digital bank will issue the shares at 5,000 won apiece, according to an Oct. 16 filing.

Following the capital increase, the number of KakaoBank's outstanding common shares will rise to 360,000,000.

As of Oct. 16, US$1 was equivalent to 1,186.59 South Korean won.