Kakao Mobility is reportedly pursuing a U.S. initial public offering (IPO) targeting about $1 billion in proceeds, about four years after its plans to list on the Korean stock market fell through. U.S.-based IPO market data provider IPOX reported that the local mobility platform operator had confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission (SEC) for a U.S. IPO in June targeting about $1 billion in proceeds, citing financial news outlet IFR. A confidential submission allows a company to undergo SEC review before publicly disclosing detailed information about its offering. If and when Kakao Mobility makes a public filing, details such as the offering size, price range and mix of new and existing shares are expected to be disclosed. Bank of America, Morgan Stanley and UBS have been named as potential underwriters for the offering. The potential U.S. listing marks Kakao Mobility’s return to the IPO market after it shelved plans for a Korean listing in 2022. The company operates Kakao T, a mobility platform offering taxi-hailing and desi