Kakao Games decides on a ₩240 billion capital increase…ownership to shift to LY Corporation
Summary
- Kakao Games said it decided on a paid-in capital increase to raise about ₩240 billion for working capital and other purposes.
- It said LAAA Investment, an investment-purpose entity of LY Corporation, will participate in the capital increase and subscribe to convertible bonds (₩60 billion).
- It said that once the transaction closes in May, LAAA Investment will become Kakao Games’ largest shareholder.
Forecast Trend Report by Period
Kakao Games to be sold to LY Corporation for ₩300 billion
Capital increase of ₩240 billion + convertible bonds worth ₩60 billion
Kakao Games said in a regulatory filing on the 25th that it has decided on a paid-in capital increase to raise about ₩240 billion for working capital and other purposes. It will issue 17,458,354 new shares (common stock) at ₩13,747 per share.
The third-party allottee is L Triple A Investment (LAAA) (17,458,354 shares). LAAA Investment, an investment-purpose entity of LY Corporation, plans to acquire part of Kakao’s stake in Kakao Games and also participate in subscribing to the newly issued shares and convertible bonds (₩60 billion) to be issued by Kakao Games.
Once the transaction closes in May, LAAA Investment will become Kakao Games’ largest shareholder.
Noh Jeong-dong, Hankyung.com reporter dong2@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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