Kakao Bank IPO details: A total of 1,667 domestic and foreign institutional investors placed bids totalling 2,585 trillion won for the kakao bank IPO, the largest amount of institutional bids ever for a South Korean IPO.
Kakao Bank, one of two digital banks, ranks No. 1 among South Korea’s financial apps with 13.35 million monthly active users (MAUs), while holding 14th place among all the nation’s apps.
Kakao bank Share Price: South Korean digital bank Kakao Bank Corp will raise $2.2 billion in its initial public offering (IPO). The shares were priced at 39,000 won each, the top of the range announced in a regulatory filing this month, to raise about 2.6 trillion won ($2.22 billion).
Kakao bank app Kakao Pay reported KRW107.1bn in sales and KRW10.8bn in operating profit in the first quarter of 2021.