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home / news releases / siebert financial up 11 on kakao pay buying 20 stake

SIEB - Siebert Financial up 11% on Kakao Pay buying 20% stake

Siebert Financial Corp.

2023-04-27 09:56:13 ET

  • Siebert Financial ( NASDAQ: SIEB ) t o issue shares in Siebert to Kakao Pay , a fintech subsidiary of Korean-based conglomerate Kakao.
  • Kakao Pay announced an agreement to purchase a 19.9% stake of Siebert of newly issued shares for ~$17M, Kakao Pay will acquire an additional 31.1% of Siebert of newly issued shares.
  • After the close of the second transaction, Kakao Pay will become the largest shareholder of Siebert with a total of 51% ownership of Siebert.

For further details see:

Siebert Financial up 11% on Kakao Pay buying 20% stake
Stock Information
Company Name: Siebert Financial Corp.
Stock Symbol: SIEB
Market: NASDAQ
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