Kakao to have secured USD 1 billion overseas investment, aggressive investment in global M&A and AI technology
Jin Hyun Jin | 2jinhj@ | 2018-01-19 11:01:19
Kakao is expected to acquire USD 1 billion (about KRW 1.9 trillion) projectile and go on a global M & A. The Webtoon application `Pikoma` is expected to hit the Japanese market, which is gaining popularity, and to advance into overseas markets.
On January 18, Kakao revealed that it has successfully attracted foreign institutional investors and plans to invest in M & A and artificial intelligence (AI) technology in the future.
Kakao announced the issuance of Global Depositary Receipts (GDR) on December 15 last year and held overseas road shows in major financial markets including Singapore, Hong Kong, New York, London, Boston and San Francisco. Investor meetings, which were originally scheduled for 36 days, increased by 55 in total, with explosive interest in the local market. In the subsequent demand forecasts, large-scale subscriptions continued, prompting GDR issuance. The GDR is expected to be listed on the Singapore Stock Exchange in early February. The issuance price of GDR issued a total of 82,617,171 shares with a discount of 3.7% on the 17th at the closing price of 121,944 won (121.04 dollars).
Meanwhile, Kakao plans to invest in global and domestic content companies such as game and webtoon, and to invest in domestic and foreign companies related to the 4th industry such as artificial intelligence (AI). Lim Ji-hoon, president of Kakao, said at the second year of its inaugural meeting last year, he emphasized that the "key" of overseas advancement is content, Park Sung-hoon, Chief Strategy Officer of Cacao (CSO) said, "We will do our best to maximize shareholder value by promoting company-centered M & A secured by growth potential and profitability and securing new growth engine."
Kakao, at the investment show, said it was preparing to step up to the second stage from this year if it acquired the company and acquired major business divisions by the year`s end and set up a stage for growth.
In fact, in March 2016, Kakao made a big deal of acquiring yen entertainment, followed by two acquisitions including Park Square and three investments including C & T Tech. Cacao Investments, a cacao investment firm, is reported to be actively contacting technology if it has potential, including two acquisitions and 12 investments in 2016.
Main goal of Kakao this year is likely to be Japan. In the Japanese market, the Webtoon app "Pikoma" is promoting, and the Japanese taxi-calling app "Japan taxi" and the cacao taxi are concluded to be linked. A cacao official said, "For overseas investors, Cacao introduces Google, Uber, Sporty, and Watts apps as a group, and tells them that it is a company that does data business." "We will also spur overseas markets," he stated.
By Jin Hyun Jin 2jinhj@
[ copyright ⓒ The Digitaltimes ]
On January 18, Kakao revealed that it has successfully attracted foreign institutional investors and plans to invest in M & A and artificial intelligence (AI) technology in the future.
Kakao announced the issuance of Global Depositary Receipts (GDR) on December 15 last year and held overseas road shows in major financial markets including Singapore, Hong Kong, New York, London, Boston and San Francisco. Investor meetings, which were originally scheduled for 36 days, increased by 55 in total, with explosive interest in the local market. In the subsequent demand forecasts, large-scale subscriptions continued, prompting GDR issuance. The GDR is expected to be listed on the Singapore Stock Exchange in early February. The issuance price of GDR issued a total of 82,617,171 shares with a discount of 3.7% on the 17th at the closing price of 121,944 won (121.04 dollars).
Meanwhile, Kakao plans to invest in global and domestic content companies such as game and webtoon, and to invest in domestic and foreign companies related to the 4th industry such as artificial intelligence (AI). Lim Ji-hoon, president of Kakao, said at the second year of its inaugural meeting last year, he emphasized that the "key" of overseas advancement is content, Park Sung-hoon, Chief Strategy Officer of Cacao (CSO) said, "We will do our best to maximize shareholder value by promoting company-centered M & A secured by growth potential and profitability and securing new growth engine."
Kakao, at the investment show, said it was preparing to step up to the second stage from this year if it acquired the company and acquired major business divisions by the year`s end and set up a stage for growth.
In fact, in March 2016, Kakao made a big deal of acquiring yen entertainment, followed by two acquisitions including Park Square and three investments including C & T Tech. Cacao Investments, a cacao investment firm, is reported to be actively contacting technology if it has potential, including two acquisitions and 12 investments in 2016.
Main goal of Kakao this year is likely to be Japan. In the Japanese market, the Webtoon app "Pikoma" is promoting, and the Japanese taxi-calling app "Japan taxi" and the cacao taxi are concluded to be linked. A cacao official said, "For overseas investors, Cacao introduces Google, Uber, Sporty, and Watts apps as a group, and tells them that it is a company that does data business." "We will also spur overseas markets," he stated.
By Jin Hyun Jin 2jinhj@