Kakao Corp. (KRX:035720) subsidiary and taxi-hailing and mobility platform Kakao Mobility has confidentially filed for an initial public offering in the U.S. in June and seeks to raise about $1 billion, Yonhap News reported Thursday, citing a financial market tracker.

Bank of America, Morgan Stanley, and UBS are listed as underwriters for the IPO, the report said.

Kakao Mobility did not immediately respond to MT Newswires' request for comment.

Shares of Kakao Corp. added nearly 5% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)