SEOUL :Digital lender Kakao Bank Corp made a stunning debut on Friday, surging 65per cent from its IPO price to become South Korea's biggest financial services firm by market value.
"Shareholders are bullish as it's a platform, not just a bank. It's a whole new type of firm, made possible due to South Korea's unique regulatory environment," said Seo Young-soo, an analyst at Kiwoom Securities. Kakao Bank became profitable in 2019 after less than two years in operation and has 13.35 million monthly active users, making it the largest financial app in the country.
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South Korea's Kakao Bank shares soar in market debutSEOUL : South Korea's Kakao Bank Corp jumped 38per cent above its initial public offering (IPO) price on its market debut, amid growth expectations for the digital bank's planned mobile mortgage business and other offerings. The listing is the country's biggest since game company Netmarble's IPO raised 2.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
South Korea's Kakao Bank shares soar in market debutSEOUL : South Korea's Kakao Bank Corp jumped 38per cent above its initial public offering (IPO) price on its market debut, amid growth expectations for the digital bank's planned mobile mortgage business and other offerings. The listing is the country's biggest since game company Netmarble's IPO raised 2.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »