[Special Stock] Kakao Games Drops Over 8% on Subsidiary Listing News

[Asia Economy Reporter Lee Myunghwan] Kakao Games is showing a weak performance in the market on the afternoon of the 12th. This appears to be a repercussion of the news about its subsidiary Lionheart Studio's plan to go public.

As of 2:35 PM on the same day, Kakao Games is trading at 66,900 KRW, down 7.98% (5,800 KRW) from the previous trading day.

This is interpreted as an effect of the news that Lionheart Studio, a subsidiary of Kakao Games, is pursuing an initial public offering. Lionheart Studio is the developer of Kakao Games' flagship title, "Odin: Valhalla Rising."

Thanks to the success of Odin, Kakao Games recorded its highest-ever performance last year. On a consolidated basis, Kakao Games posted sales of 1.0125 trillion KRW and an operating profit of 114.3 billion KRW last year, representing increases of 104% and 72% respectively compared to the previous year. In particular, the mobile game sector achieved sales of 754.9 billion KRW, a 203% increase, thanks to the success of "Odin."

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