South Korea’s Kakao Corp Completes US$1 Billion GDR Offering
Seoul – Paul Hastings, a leading global law firm, announced today that the firm represented the underwriters in the US$1 billion GDR offering by Kakao Corp., the operator of leading mobile and online platforms in Korea. This marks the largest overseas-listed equity offering by a Korean issuer in a decade.
The GDRs will be listed on the Singapore Exchange, while the underlying common shares will be listed on the Korea Exchange.
Paul Hastings previously advised the underwriters in a US$200 million exchangeable bond offering by Kakao Corp., exchangeable into shares of Loen Entertainment.
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