[Alpha Biz=(Chicago) Reporter Paul Lee] Kakao Pay is weakening in the aftermath of the after-hours trading (block deal) of Alipay, the second largest shareholder.

At 9:30 am on the 6th, Kakao Pay was traded at 41,000 won, down 1,550 won (3.64%) from the previous day.

Alipay Singapore is said to have started forecasting demand from investors to sell 2.2% of Kakao Pay's stake the previous day.

The expected demand forecast price is 38,380 won per share, and the number of shares to be sold is 2.95 million shares, which is about 113 billion won. Goldman Sachs was in charge of the host.

Meanwhile, Alipay Singapore is the second largest shareholder with a 34.2% stake in Kakao Pay. Earlier, Alipay Singapore sold its 9.8% stake in Kakao Pay as a block deal in 2022.

 

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