KDB Financial Group was created last year as the holding company for the state-run Korea Development Bank (KDB) and four other units as part of the government's plan to privatize it.
"With an aim to list the group's shares (on the local bourse) next year, we are in consultation with the government over details," Min Euoo-sung, president of KDB Financial Group, said in an interview with Yonhap News Agency.
Min said he expected the proceeds of the stake sale to reach between 8.5 trillion won (US$6.94 billion) and 17 trillion won.
Under the blueprint for the privatization, KDB Financial Group will seek to list its shares on the Seoul bourse in 2011 and on overseas stock markets in 2012 in a bid to accelerate the privatization of the bank.
The government, which owns 100 percent of the group, should start to reduce its stake in the group no later than May 2014 to put it in private hands.
"After having close consultations with the government, the group will seek for aggressive takeovers at home next year and plans to make inroads into overseas markets," he added.//Yonhap
reporter
Park Sae-jin
swatchsjp@ajunews.com
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