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    A035720   KR7035720002

KAKAO CORP.

(A035720)
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Kakao : S.Korea's Kakao Games shares soar 30% in market debut

09/09/2020 | 08:43pm EDT

SEOUL, Sept 10 (Reuters) - Kakao Games Corp shares soared 30% on debut on Thursday, boosted by investors betting on companies expected to benefit from people staying at home due to the coronavirus pandemic.

The stock debuted on Seoul's junior stock market at 48,000 won, double the IPO price, valuing the company at 3.5 trillion won ($2.95 billion).

The gaming unit of South Korea's biggest mobile messaging operator Kakao Corp priced its IPO last month at the top of its indicative range, reflecting strong demand for gaming stocks as people bunker down at home to avoid the virus.

In early morning trade, the stock rose as much as 30% from its opening price to 62,400 won, compared with a 1.4% rise in the junior KOSDAQ.

The IPO was one of the most highly anticipated offerings in South Korea this year.

"The social distancing measures have prompted people to seek entertainment options to keep themselves occupied and gaming offers just that," said Kim Dong-hee, an analyst at Meritz Securities. (Reporting by Heekyong Yang and Jihoon Lee)


ę Reuters 2020
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Analyst Recommendations on KAKAO CORP.
More recommendations
Financials
Sales 2021 5 927 B 5,04 B 5,04 B
Net income 2021 937 B 0,80 B 0,80 B
Net cash 2021 3 774 B 3,21 B 3,21 B
P/E ratio 2021 55,8x
Yield 2021 0,03%
Capitalization 49 757 B 42 407 M 42 344 M
EV / Sales 2021 7,76x
EV / Sales 2022 5,94x
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 29
Last Close Price 115 000,00 KRW
Average target price 166 724,14 KRW
Spread / Average Target 45,0%
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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