Kakao’s $1 Billion Offering

Cleary Gottlieb represented Kakao Corp. in a $1 billion Rule 144A/Regulation S offering of global depositary shares. Paul Hastings represented the underwriters.

The GDSs are expected to be listed on the Singapore Stock Exchange on February 2, 2018. Citigroup and Goldman Sachs International acted as the joint global coordinators and bookrunners for the offering, which closed on January 23, 2018.

Kakao Corp. operates Korea’s leading instant messaging service as well as leading mobile and online platforms in Korea.

The Paul Hastings team was led by Dong Chul Kim (Picture), head of the firm’s Korea capital markets practice, with support from associate Nicholas Ahn.


Involved fees earner: Dong Chul Kim – Paul Hastings; Nicholas Ahn – Paul Hastings;

Law Firms: Paul Hastings;

Clients: Citigroup Inc.; Goldman Sachs International;



Author: Michael Patrini