Kakao Bank defies regulatory hurdles for $2bn IPO

Jonathan Breen

July 22, 2021 11:30 am

Korea_USdollar_Adobe_24July — South Korea financial concept. Female hand holding dollar banknotes on national flag background. Currency and money theme with copy space. | sezerozger - stock.adobe.com

Kakao Bank has defended its valuation following a W2.55tr ($2.2bn) IPO after being questioned by South Korea’s regulators about its high pricing. The internet-only bank is only the latest in the country to be targeted by authorities cracking down on lofty valuations of new listings. Jonathan Breen reports.

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Topics

Credit Suisse Equity IPOs Equity Korea Investment and Securities Citi South Korea Asia Northeast Asia Kookmin Bank Asia Pacific Emerging Markets

JB

Jonathan Breen

Equities editor GlobalCapital Asia