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    A035720   KR7035720002

KAKAO CORP.

(A035720)
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Ant-backed Kakao Pay expects IPO to raise up to $1.4 bln

07/02/2021 | 05:23am EDT

SEOUL, July 2 (Reuters) - South Korean fintech company Kakao Pay Corp's planned initial public offering (IPO) next month is expected to raise up to 1.6 trillion won ($1.4 billion), at the top end of an indicative price range, it said on Friday.

Kakao Pay Corp, which is backed by Chinese e-commerce company Ant Group, expects to offer 17 million new shares in an indicative range of 63,000-96,000 won per share, it said in a regulatory filing.

The unit of South Korea's top mobile messaging service company, Kakao Corp, provides financial services including money transfers, savings accounts and asset management.

The company estimated its valuation at 12.5 trillion won, according to its filing. The main underwriters for the deal are Samsung Securities, JP Morgan, and Goldman Sachs, with co-underwriter Daishin Securities.

Kakao Corp is the largest shareholder with 55% of Kakao Pay Corp, followed Ant Group's Alipay with 45%, the regulatory filing showed.

South Korea is seeing its hottest IPO market on record, with analysts expecting at least 20 trillion won to be raised in 2021, or about four times above 2020 levels. ($1 = 1,136.0400 won) (Reporting by Heekyong Yang Editing by David Goodman and Kim Coghill)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DAISHIN SECURITIES CO., LTD. -0.92% 21600 End-of-day quote.66.15%
KAKAO CORP. -1.65% 119500 End-of-day quote.53.40%
S&P GSCI COCOA INDEX 0.46% 102.3174 Delayed Quote.-0.38%
All news about KAKAO CORP.
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09/14S.Korean stocks end higher ahead of U.S. inflation data
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09/13Kakao, Naver Shares Continue to Plunge on Rising Regulatory Risk on Tech Firms
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09/12KAKAO : Kakaopay's Car Insurance Comparison Service to be Suspended from Sept. 25
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Analyst Recommendations on KAKAO CORP.
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Financials
Sales 2021 5 941 B 5,01 B 5,01 B
Net income 2021 933 B 0,79 B 0,79 B
Net cash 2021 3 788 B 3,20 B 3,20 B
P/E ratio 2021 58,0x
Yield 2021 0,03%
Capitalization 51 704 B 43 560 M 43 639 M
EV / Sales 2021 8,07x
EV / Sales 2022 6,17x
Nbr of Employees -
Free-Float 64,8%
Chart KAKAO CORP.
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Kakao Corp. Technical Analysis Chart | MarketScreener
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Technical analysis trends KAKAO CORP.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 30
Last Close Price 119 500,00 KRW
Average target price 167 166,67 KRW
Spread / Average Target 39,9%
EPS Revisions
Managers and Directors
Min-Soo Yeo Co-Chief Executive Officer & Director
Su-Yong Jo Co-Chief Executive Officer & Director
Beom-Soo Kim Chairman
Tae-Sung Jung Head-Compliance Support
Kyu-Jin Cho Independent Director
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