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Market Chatter: TPG-Backed Kakao Mobility Mulls Listing Shares in US

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TPG-backed (TPG) Korean ride-hailing firm Kakao Mobility is weighing listing shares held by the private equity firm on a US exchange, Bloomberg reported Thursday.

Kakao Mobility confidentially filed a draft registration statement to the US Securities and Exchange Commission on July 2 for a potential offering of American depositary receipts, according to the report.

The proposal is one of the options being explored for TPG to exit its stake in Kakao Mobility and any ADRs would be backed solely by shares the private equity firm owns, Bloomberg reported.

TPG did not immediately respond to' request for comment, and Kakao Mobility could not be reached for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $53.21, Change: $+0.03, Percent Change: +0.06%

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