SEOUL: South Korean fintech company Kakao Pay Corp cut its planned initial public offering (IPO) target to up to 1.5 trillion won ($1.29 billion) from a previously announced 1.6 trillion won, it said on Tuesday.
The adjustment from the company backed by Chinese e-commerce company Ant Group follows a Financial Supervisory Service (FSS) request for it to resubmit its IPO registration statement last month.
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