South Korea's fintech stretches valuation limits [Reuters]
StoneCo Ltd. - Class A Common Share (STNE)
Company Research
Source: Reuters
The payments-to-wealth management arm of super-app owner Kakao cut the price range of its initial public offering by roughly 6% after regulators ordered it read more to revise its filings. Kakao Pay's enterprise will now be worth as much as about $10 billion, or 27 times 2021 annualised sales. Brazilian fintech services PagSeguro (PAGS.N) and StoneCo (STNE.O) and American e-lender Upstart (UPST.O) trade at an average 16 times. The company's edge is its $60 billion parent. As of June, Kakao's messaging platform boasted 46 million local users – nearly 90% of South Korea's population. That has turbocharged payments growth: transactions have been expanding at an annual rate of 89% since 2018 and hit 12.5 trillion won ($108 billion) last year, according to analysts at Daiwa. Dizzying valuations have become a norm in South Korea's hot fintech sector . Affiliate Kakao Bank (323410.KS) , whose shares jumped 80% on their debut last month, now fetches 15 times book value, well above traditi
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News
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STNE
Earnings
- 3/18/24 - Beat
STNE
Sec Filings
- 4/23/24 - Form 6-K
- 3/21/24 - Form 6-K
- 3/18/24 - Form 6-K
- STNE's page on the SEC website