K Bank Pulls IPO Due to Weak Demand, Eyes Restart Next Year (1)

Online lender K Bank Co. has withdrawn its $700 million-plus initial public offering in Seoul amid concerns over high valuation and dependency on a cryptocurrency operator for its funding.

K Bank failed to generate enough demand for listing during the recent bookbuilding, the Seoul-based company said in a regulatory filing on Friday. The lender plans to revive the IPO early next year after changing details such as the number of shares on offer, the company said in a separate statement.

The company had planned to price the offering Friday, with a debut scheduled for Oct. 30. A successful listing would ...