Kakao plans 5:1 stock split to make shares more accessible to more investors
Updated: 2021-02-26 13:46:15 KST
South Korean tech giant Kakao has announced plant to split its stock five-for-one.
The price is currently around 430 U.S. dollars a share, so at that level, the price would come down to about 85 dollars.
The company said it wants the split to make its shares accessible to more investors.
The decision will be put to a shareholders' vote next month.
If approved, the split will happen in mid-April.
So far this year, Kakao's stock is up around 21 percent, and from a year ago it's up more than 150 percent.