Kakao bank IPO details, Share Price

South Korea’s Kakao Bank IPO to raise $2.2 billion after pricing at top of range

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.

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