[Alpha Biz=(Chicago) Reporter Paul Lee] Some of the shares held by ALIPAY SINGAPORE HOLDINGPTE LTD, the second-largest shareholder of Kakao Pay, will be sold through after-hours block deals.

According to the investment banking (IB) industry on the 6th, Alipaying Singapore began forecasting demand for institutional investors to sell about 2.2% of its holdings after the market closed. Goldman Sachs was in charge of the host.

The expected price for this demand forecast is 38,380 won per week. The price is 9.8% off from the closing price of 42,550 won. The number of shares to be sold is 2.95 million shares, worth about 113 billion won.

Alipay Singapore, affiliated with Ant Group of China, is currently the second largest shareholder of Kakao Pay. As of the end of the third quarter of last year, it holds about 34.2% of Kakao Pay's stake.

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