– Kakao Pay updated its prospectus on August 31… aims to go public on KOSPI on October 14
– Providing a one-stop platform for all financial services from digital payment and money transfer to investment, insurance, loan, and asset management
– Kakao Pay’s IPO schedule
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| Par Value | 500 won | Date for Book-Building | September 29 to September 30, |
| Price per share | 60,000 won to 90,000 won | Date for IPO Subscription | October 5 to October 6, 2021 |
| Total share for the IPO | 17,000,000 shares | Date for the IPO | October 14, 2021 |
| Expected IPO Proceeds | 1.02 trillion won to 1.530 trillion won | Main Underwriters | Samsung Securities, JP Morgan, Goldman Sachs |
SEOUL, South Korea, Aug. 31, 2021 /PRNewswire/ — On August 31, Kakao Pay filed an updated prospectus and kicked off its initial public offering (IPO) schedule, aiming to go public on KOSPI in October.
Kakao Pay is offering a total of 17 million shares in the IPO as previously planned. The company adjusted the IPO share price to a range of 60,000 won to 90,000 won and is planning to raise up to 1.530 trillion won (upper limit of the price band) through the IPO.
The IPO of Kakao Pay is set for October. The company will fix the offering price through the book-building process from the institutional investors on September 29 and 30. Kakao Pay is planning to make its debut on KOSPI on October 14 after receiving subscriptions from retail investors from October 5 to 6. The main underwriters for the deal are Samsung Securities, JP Morgan, and Goldman Sachs, with co-underwriter Daishin Securities. Korea Investment & Securities and Shinhan Investment will be joining as syndicate members.
"Kakao Pay is Korea’s biggest financial service platform that covers essential daily finance from digital payments, money transfer, insurance, loan, and asset management. We are pursuing innovative challenges through cooperating with about 130 financial service providers", Kakao Pay CEO Alex Ryu said. The CEO added that the company will continue to bring about positive changes in the financial activities of more than 36.5 million users and enhance shareholder value based on its extensive usability, connectivity, and expandability.
Kakao Pay is showing continuous growth in the total payment volume and its profit structure. The company recorded first-half transaction volume (TPV) of 47.3 trillion won, an increase of 62 percent year-on-year. TPV in digital payment increased 82% compared to last year, along with a twelve-fold increase in financial services TPV.