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Wed, February 2, 2022 | 20:06
Companies
KB chairman to visit Europe, North America for IR
Posted : 2019-09-26 19:19
Updated : 2019-09-26 19:57
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KB Financial Group Chairman Yoon Jong-kyoo
KB Financial Group Chairman Yoon Jong-kyoo
By Jhoo Dong-chan

KB Financial Group Chairman Yoon Jong-kyoo, who left for investor roadshows in Hong Kong and Australia in April, is set to visit Europe and North America to meet and attract potential institutional investors in October and November, the financial group said.

According to KB Financial Group, Yoon will visit the U.K. and Norway to meet major institutional investors including pension funds and Norges Bank in October.

Yoon plans to continue his overseas roadshows in Canada and the U.S. in November.

A series of Yoon's overseas IR tours also aim to boost the financial group's share prices.

KB Financial Group enjoyed a series of record high quarterly earnings over the past year, but their share prices have remained sluggish due to the foreign selloff caused by a series of skeptic outlooks on their future earnings.

Share prices of KB Financial Group fell more than 10 percent over the past year because of various negative external factors such as the Sino-America trade row, slowdown in Korea's growth and the country's low interest rate trend.

Its stock price closed at 43,500 won ($36.29) on the Wednesday session, down more than 10 percent from last September's figure.

"It's a financial group CEO's job to boost the firm's share prices in such difficult time like this," said an industry insider. "Yoon is very outgoing and also good at attracting foreign investors."

During his last IR trip to Australia, Yoon managed to attract asset management firm Franklin Resources as an investor in April. Franklin Resources purchased more KB Financial Group shares to own a total of 5.42 percent stake.

Franklin Resources is now the group's second-largest shareholder after the National Pension Service.


Emailjhoo@koreatimes.co.kr Article ListMore articles by this reporter



 
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