Woori Investment & Securities will launch a 1 trillion won rights offering. The move is aimed at leaping to become a comprehensive financial investment business (investment bank) by 2030.
Woori Investment & Securities said on the 24th that its board of directors approved a rights offering in line with this plan. When the offering is completed, Woori Investment & Securities' capital aggregates will be 2.2 trillion won. By capital size, that ranks around 11th in the industry.
Woori Investment & Securities plans to strengthen its capacity to execute large deals based on capital and build a noninterest-centered revenue structure through aggressive investment banking (IB) sales.
In addition, it will raise overall competitiveness by diversifying managed asset and expanding its product portfolio, advancing its platform, and securing comprehensive wealth management capabilities.
Earlier, at its launch in Aug. 2024, Woori Investment & Securities presented the goal of "leaping to investment bank status by 2030 and achieving a return on equity (ROE) of 10%." Once designated as an investment bank, it can directly raise funds through instruments such as commercial paper and expand corporations finance and investment businesses, greatly enlarging its revenue base.
A Woori Investment & Securities official said, "This offering reflects the group's commitment to strengthening the nonbank institutional sector and fostering a top-tier securities firm in the capital market," adding, "We will accelerate revenue generation by our core growth engines and speed up the strengthening of our business capabilities to make the leap to investment bank status."