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Market cap of Kakao s fintech subsidiaries set to surpass conventional banks Posted : 2021-04-28 15:33 By Lee Min-hyung Two financial subsidiaries of Kakao, the nation s dominant mobile platform operator, are set to surpass the largest financial holding company here, in terms of their combined market capitalization, after going public this year. As of now, KB Financial Group maintains the leading position in the local financial market, with a market capitalization of 22.87 trillion won ($20.56 billion). Kakao Bank and KakaoPay, however, are expected to raise as high as over 30 trillion won after their planned initial public offering (IPO), based on the rapid growth of the mobile-driven financial market in Korea. ....
Local brokerages cast high hopes for LG spinoffs Posted : 2020-12-21 16:31 By Nam Hyun-woo Domestic brokerages are anticipating a positive impact after LG Group s planned spinoff of five companies under its wing, saying the changes will spur each firm to put greater efforts into improving their value. U.S. hedge fund operator Whitebox Advisors earlier threatened legal action as part of its opposition to the plan on fears of discounts to the value of LG Corp., the remaining holding firm of LG Group after the spinoff. The spinoff of the companies will have limited impact on LG Corp. s value, because existing shareholders of LG Corp. will own both companies shares, while the stock splitting ratio of LG Corp. and the new holding firm of the spinoffs is limited to 0.911 : 0.089, SK Securities analyst Choi Kwan-soon said, Monday. ....