Kakao becomes fifth biggest publicly trading name in Korea

2021.07.26 13:13:37 | 2021.07.26 14:07:27

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Platform operator Kakao trails just behind Korea’s traditional household corporate names Samsung, SK, LG and Hyundai Motor in terms of market capitalization.

The combined market value of Kakao Corp. and Kakao Games on the Kospi and Kosdaq-listed Neptune reached 73.88 trillion won as of last Friday, according to the Korea Exchange.

Kakao was valued at 66.45 trillion won, while Kakao Games reached 7.49 trillion won thanks to the recent stock surge and Neptune at 903.7 billion won.

Kakao is just behind the traditional chaebols - Samsung Group with a combined market cap of 753.6 trillion won, SK Group with 212.3 trillion won, LG Group 153.2 trillion won and Hyundai Motor Group 149.3 trillion won.

Kakao Group will easily join 100 trillion won-or-over market cap club after the initial public offerings of Kakao Bank and Kakao Pay.

Kakao Bank that is scheduled to debut on the Kospi on Aug. 6 is expected to be valued at 18.6 trillion won as its IPO is priced at 39,000 won apiece. Retail subscription will run from Monday to Tuesday.

The digital lender’s Kospi debut would raise Kakao Group’s total valuation by at least 92 trillion won.

Its digital payment unit Kakao Pay is also expected to go public later in the year.

The company had originally set its desired top price band at 96,000 won that would value the company at 12.55 trillion won, but it may have to scale down the price offering as the country’s financial authority recently asked it to revise its IPO prospectus.

Kakao Group was the 13th largest business group with a combined market cap of 13.24 trillion won as of the end of 2019.

As of 12:45 p.m. on Monday, shares of Kakao fell 1.67 percent to 147,000 won in Seoul. Kakao Games dipped 1.79 percent to 98,600 won while Neptune rose 3.16 percent to 29,400 won.

By Pulse

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