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THE INVESTOR
September 23, 2018
Big Reunion

Market Now

Kakao invests W512.8b in Kakao M

  • PUBLISHED :September 12, 2018 - 09:43
  • UPDATED :September 12, 2018 - 09:43
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[DISCLOSURE] Kakao (035720) announced on Sept. 11 that it has decided to acquire 5,127,740 shares of its affiliate Kakao M (016170) at 512.8 billion won (US$455.09 million) “to build a foundation for contents business.”

This amounts to 9.08 percent of its equity capital and it will own the entire stake in the affiliate. 

By Hwang You-mee (glamazon@heraldcorp.com)

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