UPDATE 1-Kookmin shares rally on holding firm launch hopes

(Adds Kookmin comment, background)

SEOUL, Sept 4 (Reuters) - Shares in Kookmin Bank 060000.KS jumped more than 7 percent on Thursday, lifted by market talk that it would launch a holding company later this year as planned after it won support from a majority of shareholders.

The country's top commercial lender had initially received consent at a shareholder meeting last week meeting to adopt the new business structure, which the bank expects to boost non-banking operations such as brokerage, insurance and consumer finance.

But some uncertainty had remained since it was not clear whether the amount of shares held by shareholders opposing the plan would exceed a 15 percent ceiling set by the bank to limit the cost of the transformation.

South Korean business newspapers, including the Korea Economic Daily, reported on Thursday that Kookmin would likely succeed in setting up a holding company this month since the size of the stake owned by shareholders opposing the plan would not top the ceiling, citing industry sources.

Some shareholders were expected to oppose the plan on hopes they could profit by forcing Kookmin to buy back their shares at above-market prices in a set period between Aug. 26 and Sept. 4.

Kookmin had pledged to repurchase shares from those opposing the plan at a pre-set price of 63,293 won ($55.13) each, 18 percent higher than Wednesday's closing price of 53,700 won.

Kookmin (KB.N), with assets of $206 billion, said it did not have a final figure for shareholders supporting the plan but would disclose the number in a statement on Friday.

On Aug. 14, Kookmin also announced a 1 trillion won share buyback plan, a move seen aimed at dissuading shareholders from vetoing the holding company initiative.

Analysts said the new structure would allow Kookmin to better utilise its excess capital as domestic banks have been gaining size via acquisitions to make up for weaker lending margins.

Kookmin shares rose as much as 7.3 percent before trimming gains to 6.2 percent to 57,000 won by 0056 GMT, outperforming a 0.3 percent slip in the wider market .

($1=1147.9 Won)

(Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)