Kakao Mobility is reportedly pursuing a U.S. IPO to raise about $1 billion, after its Korean listing plans fell through in 2022. The company confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission in June, according to IPOX citing IFR. The move follows shareholder steps, financial re-audits and board preparations linked to a possible overseas listing.
A Kakao T taxi / Yonhap
Kakao Mobility is reportedly pursuing a U.S. initial public offering (IPO) targeting about $1 billion in proceeds, about four years after its plans to list on the Korean stock market fell through.
U.S.-based IPO market data provider IPOX reported that the local mobility platform operator had confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission (SEC) for a U.S. IPO in June targeting about $1 billion in proceeds, citing financial news outlet IFR.
A confidential submission allows a company to undergo SEC review before publicly disclosing detailed information about its offering. If and when Kakao Mobility makes a public filing, details such as the offering size, price range and mix of new and existing shares are expected to be disclosed.
