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South Korea’s Kakao Games soars 30% in market debut, hitting daily limit

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Passengers use smartphones inside a subway train in Seoul, South Korea, in 2015.

Woohae Cho/Bloomberg | Bloomberg | Getty Images

SINGAPORE — South Korea’s Kakao Games surged in their Thursday market debut on the Kosdaq, more than doubling from their listing price shortly after trading began.

Kakao Games’ shares started trading at 48,000 Korean won (about $40.48) apiece, twice the issue price of 24,000 won. ($20.24) They briefly surged to hit the daily permissible limit of 30%, last sitting at 62,400 won ($52.63) per share.

Meanwhile, parent company Kakao Corp. also saw its stock get a slight boost as it advanced around 0.9%.

The initial public offering (IPO) brought in about 384 billion…



Source cnbc.com

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