[Edaily Reporter Kwon Oh Seok ] Kakao Games Corp.(293490)’s stock price surged to the daily upper limit early in the trading session. This appears to have been driven by news that the company’s largest shareholder has changed to a special purpose company (SPC) funded by Japan’s “LINE Yahoo,” which has secured a large amount of capital, thereby boosting investor sentiment.

According to MP Doctor on the 22nd, as of 9:04 a.m., Kakao Games Corp. shares were trading at the daily price limit of 11,450 won, up 29.97% from the previous trading day.
Previously, on the 19th, Kakao Games Corp. announced that its largest shareholder had changed to LAAA Investment LLC (33.43%) following a third-party private placement and the execution of a share purchase agreement. The largest shareholder of LAAA Investment is Petrico No. 6 Private Equity Partnership, and the largest investor in that company is LY Co., Ltd., which operates LINE.
LINE Yahoo participated, through LAAA Investment, in Kakao Games Corp.’s 2400억 won third-party private placement and the issuance of 600억 won in convertible bonds (CBs). Kakao Games Corp. also announced on the same day that the payment procedures for the private placement and CB issuance had been completed.
Kakao was previously the largest shareholder, holding a 37.93% stake in Kakao Games Corp., but with the completion of this acquisition process, its stake has been reduced to 14.68%. The market believes that Kakao Games Corp. will be able to strengthen its global business competitiveness and lay the groundwork for mid- to long-term growth based on the financial stability gained from attracting new investment.