South Korea's Kakao Games surged in their Thursday market debut on the Kosdaq, more than doubling from their listing price shortly after trading began. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. A cash management account refers to a type of account offered by securities firms and other financial institutions that allows an account holder to trade equities while earning interest on cash balances. "That's why I think that a lot of (companies) will ... continue to raise capital if the market can stand for it," Choi said. Coupled with "more confidence" in the video game sector and South Korea being one of the largest markets in the space, Choi said it was "reasonable" for Kakao Games to be "so hot at the moment.". According to data from Korea Financial Investment Association, deposits in South Korean cash management accounts had been on a steady rise this year and surpassed 60 trillion won for the first time as investors stayed on the sidelines ahead of the high-profile IPO. We use cookies to ensure you get the best experience on our website. SINGAPORE — South Korea's Kakao Games surged in their Thursday market debut on the Kosdaq, more than doubling from their listing price shortly after trading began. Another pressing reason for the delay is that other major IPOs scheduled for early next year, including LG Energy Solution ― a battery spinoff company from LG Chem ― and game company Krafton, as institutional investors have a limited focus on major IPO projects. "Market watchers and media just conjectured that the IPO would be completed within this year, but we never said so. 'We are not afraid': France rallies after beheading of teacher, Woman repents for offering to sell newborn baby online: police, S. Korea reaffirms commitment to NK-US talks, Delivery worker dies from overwork, workers' group says, Bae Suzy and Nam Ju-hyuk's 'Start-up' premieres at 4.5% rating, Refund Sisters release 'Don't Touch Me' LP, CGV to close 30 percent of its theaters due to pandemic slump, BLACKPINK's first full album ranks No. Park The IPO timing of Kakao Page, an online content affiliate of mobile IT parent company Kakao, is expected to be delayed further to sometime around late 2021 or even pushed to 2022. Passengers use smartphones inside a subway train in Seoul, South Korea, in 2015. loan to South Korea [VIDEO], Experts advocate for immigration amid population decline. The two-pronged reason that the market was expecting Kakao Page to be Kakao's next IPO company was that it already selected NH Investment & Securities as its IPO underwriter early last year, and the company was one of the very first Kakao affiliates that achieved soaring annual net profits, with rosy future growth.

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