Kakao Bank, one of the largest initial public offering (IPO) companies this year, will begin listing on the securities market in earnest.
The Securities Market Headquarters of the Korea Exchange said on the 15th that it has received an application for preliminary review of Kakao Bank's listing of shares.
Kakao Bank is an Internet bank established on January 22, 2016. As of the date of application, Kakao is the largest shareholder with a 31.6% stake.
Last year, operating profit and net profit were 122.6 billion won and 113.6 billion won, respectively. Currently, Kakao Bank is traded in the mid-80,000 won per share in the over-the-counter market.
Stock industry sources estimate that Kakao Bank's market capitalization will reach at least 10 trillion won up to 20 trillion won after its listing. KB Securities and Credit Suisse are underwriters of the listing.
Reporter Lee Ji-sun stockmk2020@gmail.com
