Kakao Pay starts taking bids from institutional investors for its IPO next month
Updated: 2021-10-20 16:43:05 KST
South Korean fintech firm Kakao Pay has started taking bids from institutional investors for its IPO next month.
The proposed price band is between 51 and 76 U.S. dollars and the offering price will be set after the two-day book-building session this week.
Retail investors will be able to pre-order shares on October 25th and 26th which will be followed by a trading debut on the country's main bourse in early November.
The company plans to raise up to 1.3 billion dollars through its IPO and its market cap is expected to reach up to 9.9 billion U.S. dollars upon listing.