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    A035720   KR7035720002

KAKAO CORP.

(A035720)
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Kakao Bank Set to Raise $2.2 Billion After Finalizing IPO Price

07/22/2021 | 08:35pm EDT

By Kwanwoo Jun

Kakao Bank Corp. is set to raise 2.553 trillion won ($2.22 billion) after finalizing its initial public offering price at the top end of a marketed price range.

The digital bank affiliated with South Korea's internet group Kakao Corp. has priced 65.45 million new shares at KRW39,000 each, according to a regulatory filing late Thursday

Citigroup Global Markets, Credit Suisse Securities and KB Securities are among the cornerstone investors taking big portions of shares in the listing due in August.

Kakao Bank was valued at more than KRW18 trillion, based on the total number of outstanding shares and the IPO price.

Market watchers expect the IPO to make Kakao Bank, which was launched in 2016 online without any brick-and-motar branches, the third largest lender in South Korea.

Kakao Bank has grown rapidly, helped by its parent's popular messaging service that 90% of South Koreans are actively using.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

(END) Dow Jones Newswires

07-22-21 2034ET

Stocks mentioned in the article
ChangeLast1st jan.
CITIGROUP INC. -0.64% 70 Delayed Quote.14.26%
DJ INDUSTRIAL -0.18% 34751.32 Delayed Quote.12.97%
KAKAO CORP. -0.82% 121500 End-of-day quote.55.97%
S&P GSCI COCOA INDEX -0.23% 104.3598 Delayed Quote.2.31%
All news about KAKAO CORP.
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09/15SPACKMAN ENTERTAINMENT : Eyes $15 Million Sale of South Korean Film Production L..
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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 Firm..
MT
09/13S.Korean stocks end flat, U.S. CPI data in focus ahead of Fed meet
RE
09/12KAKAO : Kakaopay's Car Insurance Comparison Service to be Suspended from Sept. 2..
MT
09/10South Korean Stocks Gain after Three Sessions of Losses as Tech Stocks Revive..
MT
09/10S.Korean stocks snap three-day losses on tech rebound, Biden-Xi call
RE
09/09U.S. shares retreat, European shares end little-changed
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More news
Analyst Recommendations on KAKAO CORP.
More recommendations
Financials
Sales 2021 5 938 B 5,06 B 5,06 B
Net income 2021 933 B 0,79 B 0,79 B
Net cash 2021 3 787 B 3,23 B 3,23 B
P/E ratio 2021 58,9x
Yield 2021 0,03%
Capitalization 52 570 B 44 709 M 44 789 M
EV / Sales 2021 8,22x
EV / Sales 2022 6,30x
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 121 500,00 KRW
Average target price 168 103,45 KRW
Spread / Average Target 38,4%
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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