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South Korea's Kakao Pay says IPO could be delayed

Regulator tells fintech to rewrite prospectus after similar move on gamer Krafton

South Korea's financial regulator says Kakao Pay must refile its IPO. (Screenshot from Kakao Pay's website)

SEOUL -- Fintech company Kakao Pay said on Monday that its initial public offering may be delayed after the financial regulator demanded it correct its filing -- the second time in a month for a major IPO to be upended in South Korea.

The affiliate of online messaging giant Kakao canceled an online news conference on its IPO scheduled for next week, saying it will announce a new date when one is fixed.

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