KakaoBank falls nearly 9% on report of stake sale

KakaoBank

02/09/2021 03:25

** KakaoBank Corp  323410.KS  shares fall as much as 8.8% 
after local media report https://www.mk.co.kr/news/stock/view/2021/09/845710
 says Korea Post, South Korea's No. 2 pension fund, is seeking
to sell around 1 trln won ($862.80 mln) worth of stake in the
company in a block trade
    ** KakaoBank stock has surged as much as 142% from its IPO
price since its debut in early August  urn:newsml:reuters.com:*:nL1N2PD00C
    ** Company's market capitalisation 42.2 trln won, 10th
highest among KOSPI-listed companies as of Wednesday close
    ** KakaoBank trading down 6.6% as of 0216 GMT, while the
broader KOSPI  .KS11  is down 0.63%

 ($1 = 1,159.0200 won)

 (Reporting by Joori Roh)
 ((joori.roh@thomsonreuters.com; +82 2 6936 1493))