Kakao Pay's IPO price to be set at around US$ 76 per share
Updated: 2021-10-22 10:09:43 KST
Another blockbuster IPO for the South Korean stock market is just around the corner.
On November third, Kakao Pay, the fintech unit of the country's most-popular chat app Kakao Talk will be going public.
Ahead of its IPO, it had a two-day book-building session this week to take bids from institutional investors and it is to announce the official IPO price on Friday afternoon.
According to industry officials, the IPO price is to be set at around 76 U.S. dollars per share the high end of its proposed price range as it has been oversubscribed by a factor of about one,seven-hundred.
The two days of pre-orders by retail investors will take place next Monday to Tuesday.