S.Korea digital bank Kakao Bank picks advisors for planned IPO

South Korean digital bank Kakao Bank Corp has picked advisors for its planned initial public offering (IPO), Reuters reports.

Kakao Bank is one of two digital banks in South Korea. It became profitable in 2019 after less than two years of operation, and analysts currently estimate its valuation around 10 trillion won ($9.15 billion).

It chose Credit Suisse and KB Investment & Securities as lead advisors, the spokesman said, with Citigroup as co-advisor.

Read more: Reuters