Overallotment Option was Exercised(Jun. 27, 2002)
2002-06-28In connection with the offering of the American Depositary Shares, which was issued based on the common shares of Goldman Sachs Capital Chosun, the underwriters of the offering exercised the overallotment option on June 25, 2002 in New York time. Upon the exercising of the overallotment option, the selling shareholder sold additional 1,277,000 common shares by converting them to American Depositary Shares.
Accordingly, to the best of Kookmin Bank’s knowledge, Goldman Sachs Group’s stake in Kookmin Bank was lowered to 2.27% assuming no conversion of the convertible bonds held by beneficiary owner, Goldman Sachs Capital Koryo, which is the parent company of the selling shareholder, has been made. If the conversion rights for all outstanding convertible bonds were exercised, as of that date Goldman Sachs Group would own approximately 5.42% of our outstanding capital stock on a fully diluted basis. Considering the convertible bonds, Goldman Sachs Group is still the second largest shareholder of Kookmin Bank following the Government of Korea (9.33%).