According to Yonhap News Agency, Kakao Games announced on June 19 that it has completed a third-party allocation capital increase and stock purchase agreement, resulting in LAAA Investment LLC becoming the new major shareholder with a 33.43% stake.
The largest shareholder of LAAA Investment is Petrico No. 6 Private Equity Limited Partnership, which is primarily funded by LY Corporation, the operator of Line.
Line Yahoo participated in Kakao Games' capital increase of 240 billion won and the issuance of 60 billion won in convertible bonds through LAAA Investment.
Kakao Games also announced that the procedures for the capital increase and bond issuance have been completed.
Previously, Kakao held a 37.93% stake in Kakao Games, but following the acquisition process, its ownership has decreased to 14.68%.
A representative from Kakao Games stated, "We have secured approximately 300 billion won in substantial funding and financial stability based on new investments, which will enhance our global business competitiveness and strengthen our strategic investments for long-term growth."
* This article has been translated by AI.
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