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Shares in Kakao Pay, the fintech unit of South Korea’s largest messaging app operator Kakao Corp, closed up 114% in its market debut on Wednesday. The Ant Financial-backed company ended day one of trading at $163.3 (193,000 won), securing a market capitalization of $21.2 billion. Kakao Pay’s shares surged as high as $194.6 (230,000 won) on the KOSPI, up 155.6% from the issue price of $76.2 (90,000