KakaoBank is poised to surpass KB and Shinhan financial groups in terms of market capitalization after its forthcoming initial public offering (IPO) slated for Aug. 6. The internet-only bank’s IPO price was set at the upper end of 39,000 won ($33) per share following Thursday’s demand forecasting session that attracted a record-high 2,580 trillion won worth of bids from institutional investors.

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