Kakao Mobility pursues US IPO, seeks to raise $1 bil.
Kakao Mobility is reportedly pursuing a U.S. initial public offering (IPO) targeting about $1 billion in proceeds, about four years after its plans to list on the Korean stock market fell through. U.S.-based IPO market data provider IPOX reported that the local mobility platform operator had confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission…
South Korean ride-sharing company Kakao Mobility is reportedly planning to go public in the United States, aiming to raise approximately one billion U.S. dollars. This comes four years after their attempts to list on the Korean stock market were unsuccessful. According to U.S.-based IPO market data provider IPOX, Kakao Mobility confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission (SEC) in June, seeking a U.S. IPO with a target of $1 billion in proceeds.
The confidential filing allows the company to undergo SEC review without publicly disclosing detailed information about the offering. If they decide to make a public filing later, specifics about the offering size, price range, and allocation of new and existing shares will be revealed.
Potential underwriters for Kakao Mobility's U.S. listing include Bank of America, Morgan Stanley, and UBS. This marks the company's return to the IPO market, following their shelving of a Korean listing in 2022. Kakao Mobility operates Kakao T, a mobility platform that offers taxi-hailing and delivery services.
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Also reported by 1 other outlet
- Kakao Mobility pursues US IPO, seeks to raise $1 bil. koreatimes.co.kr
