At the behest of South Korean regulators, payments service Kakao lowers its IPO target to ~$1.3B at the top of the range, down from ~$1.4B (Sohee Kim/Bloomberg)

Sohee Kim / Bloomberg:
At the behest of South Korean regulators, payments service Kakao lowers its IPO target to ~$1.3B at the top of the range, down from ~$1.4B  —  - Regulators asked the startup to revise its IPO prospectus  — Krafton's lukewarm debut has soured sentiment domestically