Report
Sumeet Singh
EUR 92.12 For Business Accounts Only

Kakao Bank six-month lock-up

Kakao Bank's six month IPO lock-up will end on 6th Feb 2022. It will result in freeing up another US$2.5bn+ worth of shares held by a number of pre-IPO and local IPO investors.

We have covered various aspects of the deal and previous placements in our previous notes:
Kakao Bank IPO - Riding on parents network but boundaries with Kakao Pay remain unclear, Kakao Bank IPO - Pricey as It Should Be
Kakao Bank IPO - Lack of Lock-Up and MSCI, FTSE Index Implications, and
Kakao Bank IPO Trading - One for Instis, Closer Look at FTSE and MSCI Inclusion. Remain Buyers
Kakao Bank - MSCI Done, Missed FTSE by a Whisker
Kakao Bank Placement - Its Expensive but the Discount Is Enticing
Kakao Bank Lock-Up - Watch Out for Netmarble Led Blocks
2022 High Conviction - Kakao Bank - A Long Way to Go
Kakao Bank Placement - Not a surprise but past deal didn’t do well


In this note, we will talk about the upcoming lock-up expiry.
Underlyings
Kakao Corp.

Kakao is engaged in the provision of Internet services to its users and advertisers. Co. provides its owned and operated online properties and services for its users. Co. provides a range of tools and marketing services designed to enable businesses to reach its users for its advertisers.

Provider
Aequitas Research
Aequitas Research

Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m. 

Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
 
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
 
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.

Analysts
Sumeet Singh

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