S. Korea’s Kakao Pay pushes back planned $1.3b IPO to November

South Korean financial technology firm Kakao Pay Corp said on Friday it had decided to push back its planned initial public offering, worth as much as 1.5 trillion won ($1.28 billion), to November from October.

The news comes a day before the revised Financial Consumer Protection Act fully goes into effect, requiring financial services platform apps like Kakao Pay to halt financial product comparison and recommendation services unless they register with the regulator or receive a licence or permission.

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