5 Billion to 118.7 Billion... Wemade Investment Jackpot

Lionheart Studio Shares
Over 20,000 Transferred to Kakao Games

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seung-jin] Wemade has hit an investment 'jackpot' by selling a portion of its shares in Lionheart Studio, the developer of 'Odin: Valhalla Rising (Odin)'.

Wemade announced on the 30th of last month that it would transfer 22,209 shares of Lionheart Studio to Kakao Games for 118.7 billion KRW. This finalized the amount for the partial sale of Lionheart Studio shares that Wemade decided on April 29. After the transfer, Wemade's stake in Lionheart Studio changed from 7.2% to 4.23% (31,369 shares).

The purpose of the transfer is to 'recover investment funds through the exercise of joint sale rights.' Wemade earned a total of 118.7 billion KRW, including an advance payment of 42.5 billion KRW received on the 2nd of last month and the remaining 76.2 billion KRW. This amount is more than 23 times the 5 billion KRW Wemade invested in Lionheart Studio in 2018. Considering that 4.23% of the shares remain, Wemade's future investment returns are expected to increase further.

A Wemade representative stated, "We plan to continue active investments focusing on S-class developers with high growth potential to lay the foundation for future growth," adding, "We will actively invest in developers holding competitive intellectual property (IP) and take the lead in establishing a framework for co-growth with developers."

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