South Korea’s Kakao opposes US ADR listing plan for Kakao Mobility
4 Articles
4 Articles
Kakao held a board meeting and passed a resolution opposing the U.S. ADR listing pursued by Kakao Mobility. The company determined that the listing is overly focused on the liquidation of existing shares held by financial investor TPG and posed significant potential risks, such as a decline in Kakao's corporate value and conflicts of interest among shareholders. Consequently, it disallowed the pursuit of the listing in its current form, as it of…
South Korea’s Kakao opposes US ADR listing plan for Kakao Mobility
SEOUL, Sept 22 (Reuters) - South Korean tech company Kakao said its board had resolved to oppose a proposed US ADR listing of subsidiary Kakao Mobility based solely on shares held by private equity firm TPG, according to a regulatory f...
Kakao has decided to oppose the listing of its subsidiary Kakao Mobility's American Depositary Receipts (ADRs) in the United States.
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