
Shares in Kakao Pay, the fintech unit of South Korea’s largest messaging app operator Kakao Corp, closed up 114% in its market debut on Wednesday.
The Ant Financial-backed company ended day one of trading at $163.30 (193,000 won), securing a market capitalization of $21.2 billion.
Kakao Pay’s shares surged as high as $194.60 (230,000 won) on the KOSPI, up 155.6% from the issue price of $76.20 (90,000 won), the upper end of its IPO range.
Kakao Pay raised $1.3 billion (1.53 trillion won) at a $9.9 billion valuation, offering 17 million new shares in its initial public offering last week.
The gains for Kakao Bank came amid a crackdown on the country’s tech companies by South Korean regulators and politicians. In September, local lawmakers accused the country’s Big Tech companies, including Kakao Pay’s parent company Kakao Corp, of monopoly issues. The lawmakers also have expressed concerns regarding the growing power and valuation of tech companies in Korea.
Kakao Pay had to delay its listing twice this summer as the Financial Supervisory Service (FSS) asked Kakao Pay to cut its share price and valuation. The company lowered about 6% of its targeted IPO to $1.3 billion from $1.63 billion in July.
Kakao Pay will use its IPO proceeds to speed up its global expansion, including in Southeast Asia, Europe and China, said CEO Alex Ryu at an online press conference last week. Southeast Asia and Middle East-based companies have been reaching out to the fintech company to seek strategic partnerships, Ryu mentioned. It will invest in AI, cloud, robo-advisers and blockchain-powered fintech companies in South Korea and overseas countries after the listing, Ryu added.
“Kakao Pay is fundamentally a financial platform, and we seek to maintain symbiotic relationships of mutual growth with other financial institutions,” said Ryu.
The company also plans to expand its offline payment infrastructure, operate a buy now, pay later (BNPL) service, set up a digital non-life insurance subsidiary and launch a mobile trading system (MTS).
Kakao Pay, founded in 2014, claims a total of 36.5 million users, with monthly active users at 20 million. The company’s total transaction volume recorded $72.4 billion for 12 months as of June, while its revenue increased more than 102% over the past two years during the pandemic. Kakao Pay recorded $6.9 million (8.2 billion won) in EBITDA in the first half of 2021.
Kakao Pay said one of its differentiators is creating synergies with its sister companies like Kakao messaging app, Kakao Bank, Kakao Mobility and Kakao Games.
Kakao Mobility and Kako Entertainment are also set to go public in 2022.
Kakao Corp’s digital lender subsidiary Kakao Bank, which raised $2.3 billion via IPO in August, had a market cap of $23.9 billion (28 trillion won) as of today.
thank you so much for this awesome internet site me and my class admired this contentedness and insight
buy levofloxacin 500mg pills levofloxacin 500mg cheap
generic dutasteride order avodart 0.5mg pills order ondansetron for sale
order ampicillin cost bactrim 960mg buy erythromycin
buy fildena generic robaxin cost order robaxin online cheap
buy sildenafil generic aurogra 100mg cheap estradiol 2mg tablet
buy lamictal 50mg for sale buy minipress pills buy tretinoin gel for sale
tadalafil 10mg us buy diclofenac 50mg pill voltaren 50mg without prescription
cost accutane 20mg accutane 40mg usa order zithromax without prescription
buy indomethacin 50mg generic terbinafine cheap amoxicillin 250mg without prescription
tadalafil 40mg oral cialis 10mg cost sildenafil
order prednisone 40mg online cheap order generic sildenafil purchase sildenafil online
cialis kaufen für männer viagra für männer viagra 200mg kaufen für männer
doxycycline 100mg pills order doxycycline 100mg sale order lasix 40mg sale
buy ramipril online order clobetasol for sale purchase azelastine generic
catapres 0.1mg sale buy minocin 50mg spiriva 9 mcg tablet
buspirone 5mg over the counter buspirone 10mg without prescription ditropan 5mg brand
order fosamax famotidine 20mg sale pepcid 20mg generic
purchase olmesartan acetazolamide 250mg oral brand diamox 250mg
tacrolimus generic oral tacrolimus order urso 300mg
purchase imdur generic order isosorbide generic buy telmisartan 80mg pill
order zyban generic buy zyrtec sale cost quetiapine 50mg
buy generic molnupiravir order lansoprazole without prescription order lansoprazole 30mg sale
buy sertraline online Generic viagra in canada buy sildenafil 100mg online cheap
order imuran 100mcg pill pantoprazole pills purchase sildenafil pills
buy tadalafil 10mg pill cialis 10mg for sale symmetrel generic
revia 50 mg without prescription buy femara 2.5 mg pill buy aripiprazole online cheap
order dapsone online cheap purchase allegra order perindopril
buy generic provera 10mg order biltricide 600 mg online cheap periactin 4mg
luvox price ketoconazole 200 mg oral buy glipizide online cheap
accutane 20mg tablet deltasone 20mg cost prednisone 5mg generic
nootropil 800mg without prescription sildenafil 100mg cheap viagra for men over 50
buy azithromycin 500mg generic neurontin 100mg without prescription neurontin 800mg pill
order generic cialis buy tadalafil 20mg for sale order viagra online
lasix 100mg brand buy doxycycline 200mg online cheap buy hydroxychloroquine 400mg sale
tadalafil 10mg ca buy cialis 10mg for sale anafranil ca
buy aralen sale order cenforce 100mg pills baricitinib buy online
sporanox 100 mg generic progesterone over the counter cheap tindamax
buy metformin 500mg pills order atorvastatin generic buy tadalafil pill
olanzapine 10mg drug order bystolic pill order valsartan online
clozaril 100mg sale clozapine 50mg cost buy decadron pill
order omeprazole 10mg without prescription prilosec order online slot games
buy zyvox 600mg sale blackjack for money blackjack for money
order metoprolol lopressor tablet buy levitra 20mg
websites for essay writing san manuel casino online best online casino for real money
I just like the helpful information you provide in your articles
vardenafil us buy methylprednisolone uk medrol 16mg pills
academic writing pay essay writing viagra sildenafil 25mg
oral aristocort 4mg buy generic triamcinolone clarinex tablet
priligy 30mg pills cytotec online buy order levothyroxine
buy cialis 40mg without prescription sildenafil pills viagra mail order us
xenical 60mg oral diltiazem 180mg brand acyclovir pills
order cialis pill order inderal online cheap oral plavix
motilium 10mg canada order flexeril 15mg online cheap order cyclobenzaprine pill
purchase baclofen pills lioresal cheap toradol for sale
sumatriptan 50mg price order imitrex 25mg without prescription avodart for sale online
colchicine 0.5mg sale casino slots gambling casino free spins no deposit
buy zantac 300mg for sale buy ranitidine 150mg celecoxib 200mg usa
casino slot games best online casino real money real casinos online no deposit
simvastatin 10mg sale simvastatin medication buy proscar 1mg generic
flagyl 400mg cheap order generic augmentin 625mg order bactrim 960mg generic
order diflucan 100mg sale fluconazole cost order viagra 100mg generic
cephalexin 125mg for sale order cleocin 150mg online buy erythromycin without prescription
ceftin for sale purchase bimatoprost pill robaxin buy online
play for real online casino games online blackjack best order cialis 10mg generic
desyrel 50mg canada desyrel ca sildenafil canada
help with writing a paper stromectol for people buy ivermectin for humans
sildenafil online buy estradiol online generic lamictal
prednisone for sale online prednisone medication amoxicillin order online
sildenafil 25mg cost of viagra 100mg cialis 10mg sale
play blackjack buy erectile dysfunction medicine buy tadalafil 10mg without prescription
azithromycin 500mg cost gabapentin ca cost neurontin
online roulette wheel casino arizona modafinil 100mg cheap
lasix 100mg uk doxycycline usa buy hydroxychloroquine 400mg generic
deltasone 40mg canada vermox 100mg cost order mebendazole 100mg pills
fildena cost rhinocort without prescription budesonide brand
cheap tretinoin cream order tadalafil pill cheap avanafil 100mg
tadalafil over the counter indomethacin 50mg sale buy indocin pills
order terbinafine order cefixime 200mg generic amoxicillin uk
order clarithromycin 250mg oral catapres 0.1 mg antivert online buy
naprosyn 500mg us order lansoprazole 15mg sale prevacid us
brand tiotropium bromide 9 mcg order terazosin 1mg generic terazosin brand
order actos 15mg online order sildenafil pills viagra without prescription
montelukast 5mg tablet female viagra pill viagra pills 200mg
cialis canada best online casino poker online for fun
cialis 20mg for sale cheap erectile dysfunction tadalafil max dose
real casino online blackjack online free best no deposit free spins
ivermectin 0.1 uk buy amantadine 100mg pill dapsone 100 mg over the counter
real online blackjack casino games online free roulette games
adalat generic allegra 180mg generic order fexofenadine pills
no deposit free spins free spins no deposit pay for dissertation
buy altace 5mg sale altace price etoricoxib 60mg canada
write my paper pay for dissertation azulfidine 500mg brand
purchase doxycycline online cheap purchase cleocin buy cleocin 300mg online cheap
olmesartan uk buy verapamil 120mg online purchase divalproex generic
buy asacol 400mg online buy astelin nasal spray buy generic avapro
purchase acetazolamide without prescription buy isosorbide 20mg online cheap order imuran 50mg for sale
digoxin 250mg pill telmisartan price order molnunat 200mg online
oral temovate buy temovate cream amiodarone 200mg sale
carvedilol without prescription ditropan 2.5mg cheap order elavil 10mg pill
buy alendronate 70mg pills fosamax ca cheap ibuprofen 600mg
nortriptyline 25mg over the counter order panadol 500mg generic buy paxil 20mg generic
famotidine 20mg sale mirtazapine order mirtazapine 30mg brand
requip 2mg uk order calcitriol 0.25 mg sale order labetalol 100 mg pills
tricor drug fenofibrate uk sildenafil tablets
cialis dosage 40 mg Discount cialis no rx usa viagra sales
buy minocin 50mg sale buy hytrin sale terazosin usa
purchase tadalafil without prescription ed pills otc pills erectile dysfunction
modafinil 200mg over the counter order promethazine pills promethazine 25mg pills
serophene canada prednisolone 40mg usa cheap prednisolone tablets
order deltasone online cheap prednisone 20mg generic amoxicillin 1000mg oral
brand sildenafil fildena online buy cost proscar 1mg
buy zofran 4mg pill sulfamethoxazole tablet buy trimethoprim online
order ventolin inhalator without prescription buy augmentin 1000mg online cheap cheap amoxiclav
modafinil oral order provigil online cheap buy lopressor 100mg
You’re looking for model and booking? “부산달리기” visit my timeline for more details 😉 😉 ,
dutasteride tablet buy cephalexin 125mg pill orlistat oral