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South Korea's Kakao opposes US ADR listing plan for Kakao Mobility
Source: reuters.com
IPOs & SPACsPrivate Markets & VentureManagement & Governance
Kakao's board opposed a proposed U.S. ADR listing for subsidiary Kakao Mobility that would be based solely on shares held by private-equity firm TPG. The decision, disclosed in a Tuesday regulatory filing, creates uncertainty around a potential liquidity event for TPG and Kakao Mobility's U.S. listing prospects.
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