For the public offering, Kakao Games plans to issue 16 million shares for both institutional and individual investors.ĭaishin Securities has set its target price for Kakao Games at 33,000 won ($28) per share, 37.5% to 65.0% higher than the company’s offering price of 20,000 won to 24,000 won. Based on the company's proposed price, its enterprise value is projected at 1.76 trillion won.
will launch its subscription process on September 1 and 2, as it aims to debut on the tech-heavy KOSDAQ at the end of the year. The game unit of Korea’s leading mobile messaging app Kakao Corp. The company is seeking to raise up to 384 billion won ($323 million) and will use the proceeds to bolster its content portfolio and finance M&As. Kakao Games kicked off its bookbuilding process for institutional investors on August 26 and 27 as it gears up for listing on South Korea’s junior KOSDAQ. Our goal is to boost sales through directly developed games as well as publishing," said Namkoong. We plan to bolster overseas revenue by utilizing the infrastructure of our offices in Europe, North America, Southeast Asia, and Japan. “Overseas revenue accounted for 30% of our earnings during the first half of the year. In July, Kakao Games released its latest game title Guardian Tales in 230 countries and is set to release Moonlight Sculptor in China during the fourth quarter. The company also plans to shore up its presence in overseas markets. The company has made efforts to overcome these barriers such as acquiring XLGames, the developer of popular MMORPG games ArcheAge, and Moonlight Sculptor.
Kakao Games has a competitive advantage in terms of operating a platform that encompasses both mobile and PC games, but it has been criticized for having a weak portfolio of directly developed games and intellectual properties compared to industry peers. For example, if a published game is successful then Kakao Games will exercise call option to transfer the game developer company into an affiliate. “In addition to M&A activities, we will also invest in game companies to secure directly developed games,” said Namkoong.
will use proceeds from the initial public offering to carry out active M&A among game sectors, said Namkoong-whon, the company's chief executive officer during an online press conference on August 26.
0 kommentar(er)
