Kakao Games Reattempts KOSDAQ Listing... Submits Preliminary Review Request

[Asia Economy Reporter Kim Heung-soon] Kakao Games is making a renewed attempt at an initial public offering (IPO).

Kakao Games announced on the 11th that it has filed a preliminary review application with the Korea Exchange for listing on KOSDAQ. The lead underwriters for the listing are Korea Investment & Securities and Samsung Securities, jointly.

Kakao Games stated, "We will diligently and carefully prepare for the public offering and do our best to successfully complete the listing," adding, "We aim to enhance corporate value while contributing to increasing trust in a transparent and sound gaming industry."

The company had pursued an IPO in 2018 and even received preliminary approval for KOSDAQ listing but withdrew midway due to accounting audit issues. Kakao Games was launched in April 2016 through the merger of Engine and Daum Games, and in 2017, it became a core affiliate by integrating Kakao's gaming business division. Last year, it recorded sales of 391 billion KRW and an operating profit of 35 billion KRW.

Kakao Games' major subsidiaries include XL Games and Friends Games.

This content was produced with the assistance of AI translation services.