DOUZONE, which has become the second-largest shareholder of Jeju Bank, is showing weakness in the NextTrade after-market (3:40 p.m. to 8 p.m.). In contrast, Jeju Bank recorded a ceiling price.
According to NextTrade on the 18th, as of 6:54 p.m. that day, DOUZONE is trading at 63,700 won, down 1,200 won (1.85%) from the previous trading day. On the Korean Exchange, DOUZONE ended at 62,900 won, down 2,000 won (3.08%) from the previous trading day.
At the same time, Jeju Bank is trading at a price limit increase of 2,580 won (29.90%), at 11,210 won in the after-market. Jeju Bank also closed at 11,100 won, up 2,470 won (28.62%) on the Korean Exchange.
On that day, according to Shinhan Financial, DOUZONE fully subscribed to 5.6 million newly issued shares in Jeju Bank's third-party allocation capital increase. After the capital increase, DOUZONE's equity stake in Jeju Bank is 14.99%, the maximum level allowed for non-financial entities to invest in local banks under current laws. Shinhan Financial's stake in Jeju Bank dropped from 75.31% to 64.01% after the increase.
Through this equity investment, DOUZONE will participate in the digital sector business of Jeju Bank. The entire investment amount will be allocated to the digital banking sector, and the company plans to introduce innovations in digital financial platforms by integrating various business models developed during the preparation process for the fourth internet-only bank.