KakaoPay Lowers IPO Price, Set to Debut on KOSPI in October

October 14 KOSPI Listing Target
First in Korea: 100% Equal Allocation for General Subscription
Anyone Can Become a Shareholder with Just 900,000 KRW Subscription Deposit

[Asia Economy Reporter Minji Lee] Kakao Pay submitted a revised securities registration statement on the 31st and has officially entered the schedule for listing on the KOSPI market in the second half of the year.

Kakao Pay plans to offer a total of 17 million shares through this initial public offering (IPO) as originally planned. The desired offering price per share has been adjusted to 60,000 to 90,000 KRW, aiming to raise approximately 1.53 trillion KRW (based on the upper limit of the price band).

The listing date has been confirmed for October. Demand forecasting for institutional investors will be conducted from September 29 to 30 to finalize the offering price, followed by a general subscription from October 5 to 6, with the goal of listing on KOSPI on October 14. The lead underwriters are Samsung Securities, JP Morgan Securities, and Goldman Sachs Securities, with Daishin Securities serving as a co-lead underwriter. Korea Investment & Securities and Shinhan Investment Corp. will also participate as underwriters.

Kakao Pay plans to allocate 100% of the shares reserved for general subscribers equally, a first in Korea. In line with the company philosophy of “financial benefits for everyone,” the high barriers to subscribing for IPO shares will be lowered to provide equal opportunities to all applicants. The minimum subscription is 20 shares, so anyone with a subscription deposit of 900,000 KRW can become a shareholder of Kakao Pay.

Ryu Young-jun, CEO of Kakao Pay, stated, “Kakao Pay is the largest comprehensive financial platform in Korea covering all daily financial needs such as payments, remittances, investments, insurance, loans, and asset management, collaborating with about 130 financial companies and continuing innovative challenges. After listing, we will enhance shareholder value based on the platform’s versatility, connectivity, and scalability, and create changes that benefit the financial lives of the entire nation beyond 36.5 million users.”

Meanwhile, Kakao Pay’s platform transaction volume continues to grow steadily. The transaction volume in the first half of this year reached 47.3 trillion KRW, a 62% increase compared to the same period last year. The payment service transaction volume increased by 82%, and the financial service transaction volume grew twelvefold compared to the previous year.

This content was produced with the assistance of AI translation services.