SangSangIn Savings Bank's share sale schedule has been delayed. The timeline has been pushed back by more than seven months from the original date, raising concerns in the industry about the potential collapse of the acquisition.
On October 12, the financial sector reported that SangSangIn announced it would change the planned share disposal date from today to November 2.
This marks the fifth postponement, with the initial disposal date set for March 31 of this year now extended to next month.
The sale amount remains at 110.7 billion won, with a deposit of 11.07 billion won. Following the share sale, SangSangIn's ownership in SangSangIn Savings Bank will decrease to 9.99%.
KBI Group, the acquiring entity, stated it would continue negotiations with SangSangIn to narrow differences over transaction details, including the sale price.
* This article has been translated by AI.
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