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Kakao to become conglomerate with market cap of 100 trillion won

Kakao to become conglomerate with market cap of 100 trillion won

Posted July. 26, 2021 07:53,   

Updated July. 26, 2021 07:53


Kakao Group is projected reach 100 trillion won (about 90 billion U.S. dollars) in total market capitalization as its subsidies including Kakao Bank and Kakao Pay are moving to go public in the local bourse.

According to the Korea Exchange on Sunday, Kakao’s total market capitalization was tallied at 66.4468 trillion won (57.7 billion U.S. dollars) as of Friday. When including its subsidiaries Kakao Games (worth 7.4933 trillion won or 65.1 billion dollars) and Neptune (903.8 billion won or 780 million dollars), Kakao Group’s total market capitalization amounts to 74.8439 trillion won (65 billion dollars).

The market cap of Kakao Bank, which will be listed on August 6, is worth 18.6289 trillion won (16.18 billion dollars) based on the offering price. The offering price that Kakao Pay suggested in its listing application was between 63,000 won (54.7 dollars) and 96,000 won (83.4 dollars) per share. When the minimum suggested price is applied, the company’s total market cap amounts to the minimum of 8.2131 trillion won (7.13 billion dollars).

Only five Korean conglomerates exceed 100 trillion won in total market cap as of Sunday, including Samsung (753.6 trillion won or 654 billion dollars), SK (212.3 trillion won or 184 billion dollars), LG (153.2 trillion won or 133 billion dollars) and Hyundai Motor (149.3 trillion won or 130 billion dollars).