Kakao Pay shares plunged 16 percent Wednesday as Alipay Singapore Holding Pte dumped 5 million shares in a block deal.
Fintech and e-commerce companies are providing limited buy-now-pay-later services, edging in slowly on the domain of credit-card companies.
Shin Won-keun, Kakao Pay CEO-designate, will be paid minimum wage until the company's stock price hits 200,000 won ($164). Shin and four other executives will return incentives they received last year, and Shin will not take any incentives until ...
Kakao Pay reported a 32.3 billion won ($27 million) net loss in 2021, compared to a 2020 net loss of 25.1 billion won.
Fintech companies will be regulated the same as traditional financial institutions, according to the Financial Supervisory Service (FSS)
Kakao is now prohibiting its executives and executives of related companies from selling shares for a certain period of time following an initial public offering. The rule comes after it was disclosed that executives of Kakao Pay had unloaded ...
Kakao Pay executives' dumping of the company's stock continued to depress shares in that company and other Kakao affiliates. Investors dumped shares in Kakao and its subsidiaries Tuesday despite the resignation of a CEO-designate on Monday. Kakao ...
Ryu Young-joon, 44, has resigned as co-CEO of Kakao, a job he never actually started.
Kakao named a 44-year-old Ryu Young-joon, who currently serves as head of Kakao Pay, as co-CEO.
Kakao Pay closed 114.44 percent higher than its public offering price of 90,000 won ($76.20) on Wednesday, its first day trading on Seoul's main bourse Kospi.