The company filed for an IPO with the KRX in April and received preliminary approval on 17 June. KakaoBank (1349010D KS) is looking to sell 65.45m shares in the IPO at a price band of KRW 33,000 to KRW 39,000 per share, raising between US$1.92bn to US$2.26bn and valuing the company between US$13.91bn and US$16.44bn.
There is a moderate probability of the stock getting Fast Entry to the FTSE All-World index but the chances of Fast Entry to the MSCI Standard index are a lot slimmer. The one thing that can get the stock Fast Entry to the MSCI and FTSE indices is better disclosure on the pre-investors that are not locked up on their holdings. At 15.99% of shares out, that will guarantee Fast Entry.