Kakao, a South Korea-based chat conglomerate, told e27 yesterday that reports of it heading towards an initial public offering at a US$5 billion valuation is entirely incorrect, as portrayed in both local and international media.
The spokesperson from Kakao said that the company “does not have any specific plans for IPO”. However, the spokesperson did not deny that the company, “like any company out in the market”, may someday go public.
The spokesperson also added that the team has seen such observations several times in the past year. However, it is just “another one of those rumours,” the official said.
Based on other media reports, e27 had earlier reported that Kakao was pursuing an IPO of US$5 billion, and that share-owning employees can cash out early. This is incorrect. According to Naver, Samsung Securities (“SS”) was said to be the “most likely” candidate to lead this IPO.