Head of New Holding Firm Is Wary of Shares Listing

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Head of New Holding Firm Is Wary of Shares Listing

Yoon Byung-chul, the chairman of the government-led Woori Financial Holdings Co., said Friday that the holding company shares will be listed on the stock market sometime after April, but the exact date of the new listing will depend on how soon the Korean stock markets recover from their current levels.

Meeting with reporters, the chairman of the new bank holding company said the Korea Stock Exchange is now busy drawing up regulations with regard to the listing of shares of the holding company next month.

But he added that even if the regulations are prepared on time, the listing on the stock market will be pursued only when the market shows signs of recovery in order to protect the value of the new firm.

"In addition, there will be no need to list shares of subsidiaries under the financial holding company since their shares will be swapped with the holding company's shares," the chairman said. Woori Financial Holding Company is scheduled to open its doors officially on April 2.



by Cheong Chul-gun

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