Kakao Mobility Files for $1 Billion US IPO as TPG Seeks Exit
Kakao Mobility, a Korean ride-hailing firm backed by TPG, has filed for a $1 billion US IPO, signaling TPG's intention to exit its investment. The move follows a successful venture with Hynix, as the company eyes an ADR listing.
The Story
Analyzing sources…
Source Diversity
Source Diversity
Low (24/100)Sources
TPG-Backed Korean Ride-Hailing Firm Eyes ADR After Hynix Triumph
Kakao Mobility is considering listing shares held by TPG Capital on a US exchange, seeking to tap the global appetite for Korean companies highlighted by SK Hynix Inc.’s blockbuster offering last month.
By Yoolim Lee and Denny Thomas
Read full article →Kakao Mobility files for $1b US IPO as TPG seeks exit
Kakao Mobility has moved closer to a potential US stock market debut after reportedly filing confidential IPO documents with US regulators, in a listing expected to raise about $1 billion and provide an exit for its second-largest shareholder, TPG. Citing a report by capital markets publication IFR, IPO market data provider IPOX said Thursday that Kakao Mobility submitted a draft registration statement to the US Securities and Exchange Commission in June. Bank of America, Morgan Stanley and UBS
By The Korea Herald
Read full article →
