South Korean fintech firm Kakao Pay's shares jump on listing day

South Korea’s Kakao Pay Corp saw its shares double in value from their initial public offering (IPO) price on their trading debut on Wednesday, as the fintech’s expected growth in transactions and other services whetted investor appetite.

Kakao Pay shares opened at 180,000 won on the KOSPI versus an IPO price of 90,000 won, and gained to 187,500 won in early trade. The financial technology firm raised 1.5 trillion won ($1.27 billion) from its IPO.

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