S.Korea's Kakao Games shares debut at 48,000 won, double IPO price
10/09/2020 01:02
SEOUL, Sept 10 (Reuters) - Shares of South Korean game
developer Kakao Games Corp 293490.KQ debuted at double its IPO
price on Thursday, boosted by investors betting on companies
expected to benefit from people staying at home amid the
coronavirus pandemic.
Kakao Games' shares opened at 48,000 won, valuing the
company at 3.5 trillion won ($2.95 billion).
The company, a gaming unit of the country's biggest mobile
messaging operator Kakao Corp 035720.KS , priced its IPO last
month at 24,000 won per share, the top of its indicative range.
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($1 = 1,184.7400 won)
(Reporting by Heekyong Yang and Jihoon Lee; Editing by
Jacqueline Wong)
((Heekyong.Yang@thomsonreuters.com; +82 2 6936 1470;))