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Kakaobank's 2-day IPO subscription period for retail investors starts Monday
Updated: 2021-07-26 08:23:51 KST
Ahead of its debut on South Korea's benchmark KOSPI next Friday, investors are likely to scramble for shares of the internet-only Kakaobank.
Retail investors are able to bid for shares during the subscription period, which opens on Monday for two days.
The bank, which has no brick-and-mortar branches, has priced some 65.five million new shares at around 34 U.S. dollars each.
That is at the high end of its proposed price range for its initial public offering.
The competition is expected to be fierce as firms submitted orders last week at a ratio of one,seven-hundred-33 for each stock made available, one of the highest ratios ever.
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