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Kakaobank becomes biggest retail lender by market value after listing Updated: 2021-08-06 13:40:01 KST

South Korean internet-only lender Kakaobank made its debut on the stock market this morning and by the end of the session it had become the country's biggest retail lender by market value.
Shares of Kakaobank opened at around 47 dollars, already up about 40 percent from its IPO price.
There's been criticism that it's far overvalued, being relatively new and having no brick-and-mortar stores, but the stock's price again surged by almost 30 percent, which is the maximum for the day, to close at about 60 dollars.
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