SEOUL -- Kakao Bank shares soared Friday in their debut on South Korea's benchmark stock exchange, rising almost 80% and making the upstart digital lender the country's most valuable listed financial company.
Kakao Bank had raised 2.6 trillion won ($2.3 billion) in its IPO, offering 65 million shares and making it the second-largest stock flotation so far this year. Krafton, a game developer, raised 4.3 trillion won in its IPO earlier this week and will be listed on the Kospi index on Tuesday.
