Kakao Bank’s Share Prices Reportedly Experienced a Surge

As per the latest reports, the stock prices for the Kakao Bank have experienced a surge. It has been one of the most remarkable and profitable debuts made by a bank from South Korea. The reports suggest that the Kakao Bank made its debut on the stock exchange on Friday, August 6, 2021.

According to data, the stock prices for the Kakao Bank experienced an 80% surge the moment it debuted on the stocks market. Since then, the platform has been performing really well and has been recording investments from several investors.

If we look at South Korea’s bank’s history in terms of going public, the Kakao Bank is the first-ever digital bank from South Korea to have gone public. This is a huge and very significant move made by the South Korean bank in order to make a name in the stocks market and gain the public’s attention for the digital world.

The data also reveals that since 2017, it is the largest initial public offering (IPO) that has taken place in South Korea. Back in 2017, it was Netmarble that had gone public and had held the largest initial public offering in the history of South Korean IPOs.

According to figures, the South Korean bank’s stock prices had surged all the way to the top by 80% during the day. However, by the end of Friday, August 6, 2021, the stock prices for Kakao Bank had experienced a 78.97% increase. This is a great achievement demonstrated by the Kakao Bank.

This goes to show that the Kakao Bank is in very high demand and has a very high reputation in South Korea. There are many investors and stakeholders who are willing to invest in financial institutions. This is the reason why the platform is observing so much participation from the investors in order to acquire more of its stakes.

It was in the middle of the pressure that the entire South Korean stock market was facing when Kakao Bank’s stock prices experienced a surge. As a result of the pressure, the stock price for Kospi experienced a drop of 0.2% on Friday.

Furthermore, stocks that were affiliated with the stocks of Kakao Bank also experienced a drop. The two major affiliated stocks were for Kakao Games and Kakao Corp. The stock prices for both affiliated firms experienced a more than a 2% drop.

As a result of the most profitable initial public listing, the Kakao Bank has now become the largest firm belonging to the financial sector in terms of market capitalization.

While some raised questions over the stock prices that were set for the IPO, calling them high, Yun Ho-young, Kakao Bank’s CEO had something else to say.

Ho-young stated that the stock prices for the IPO are set by the market and not by the firm itself. Therefore, it is completely baseless to claim that the prices for the company were overhauled at the time of IPO.