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Photo = Kakao VX |
[Alpha Biz= Kim Jisun] Seoul, October 1 – Kakao Games announced that it will divest its entire stake in Kakao VX, its screen golf subsidiary, to IVG Co., Ltd., a subsidiary of Kakao Investment, for approximately KRW 210 billion.
The transaction, priced at KRW 46,633 per share, is scheduled to close on October 15. Kakao Games stated that the sale is intended to “strengthen financial soundness and secure growth investment capital.”
This move follows Kakao Games’ recent portfolio realignment, which included the partial sale of Sena Technology shares in 2024 and the full divestment of Neptune shares in April, targeting affiliates with limited business synergies.
To prepare for the sale, Kakao Games consolidated its ownership in Kakao VX by acquiring the 34.8% stake (KRW 162.3 billion) previously held by financial investors (FIs). It then terminated shareholder agreements that included consent and veto rights, before selling its entire stake at a valuation reflecting an external appraisal.
At the same time, Kakao Games also announced a third-party paid-in capital increase targeting Kakao VX’s former FIs, raising an additional KRW 108.5 billion. The issuance involves 6,920,474 new shares at KRW 15,680 per share.
Through this series of stake acquisitions, divestments, and new share issuances, Kakao Games stated it has secured a total of KRW 156.2 billion in fresh capital.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
