[Infostock Daily=Reporter Lee Dong-hoon] Yuanta Securities raised the target price of Korea Investment Holdings Co. from 98,000 won to 130,000 won, assuming listing of Kakao Bank in the fourth quarter of 2021. The securities firm maintained an investment opinion of 'Buy.'
The securities firm forecasted, "Kakao Bank's initial public offering will be expected to have market capitalization of 10 trillion won (24,531 won per share) and the capital increase ratio is about 20% (100% third-party allocation assumption). The one-time non-operating income recognized at the time of listing will be approximately 410 billion won. Contribution profit, which remained at 10 billion won per quarter last year, is expected to rise to 15 billion won in 2021 and 30 billion won in 2022 after listing."
The firm predicted, "It will take longer for the proportion of total loans to capital to recover to the previous level as the capital increase of 5 trillion was the largest."
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com