Kakao Pay Securities Registration Submitted... Top Public Offering Price 96,000 Won
[Asia Economy Reporter Seongpil Cho] Kakao Pay submitted its securities registration statement to the Financial Services Commission on the 2nd, officially beginning the listing process on the Korea Exchange.
The total number of shares offered is 17 million. The desired public offering price per share ranges from 63,000 KRW to 96,000 KRW, resulting in an expected offering amount of 1.071 trillion KRW to 1.632 trillion KRW. The public offering price will be finalized through institutional investor demand forecasting on the 29th and 30th of this month, followed by a general subscription period from the 4th to the 5th of next month. The listing on the Korea Exchange is scheduled for August 12. The lead underwriters are Samsung Securities, JP Morgan Securities, and Goldman Sachs Securities.
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Kakao Pay will be the first company in South Korea's IPO history to allocate 100% of the shares reserved for general subscribers equally. Ryu Young-jun, CEO of Kakao Pay, stated, "After listing, we will accelerate innovative growth and enhance shareholder value, taking a step closer to our vision of becoming a 'nationwide lifestyle financial platform.'"
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