Stage Five Separates from Kakao... New Investment Partnership Becomes Largest Shareholder

"Current Management Team at the Core...Committed to Responsible Management"

Budget phone company Stage Five announced on the 18th that a new investment consortium, led by the current management team, purchased 20.94% of the shares from Kakao Investment, becoming the largest shareholder.

The shareholding ratio of Kakao Investment, the previous largest shareholder, has decreased to 8.3%, and it is no longer classified as a Kakao affiliate or a large corporation.

[Provided by Stage Five]

Additionally, as part of this transaction, a new investor will participate and acquire 5.36% of Stage Five shares held by Kakao Investment.

However, the company stated that "the transaction has not been finalized" and did not disclose the name of the investor.

Stage Five has selected Shinhan Investment Corp. as the lead underwriter and NH Investment & Securities as the co-underwriter and is preparing for an IPO.

The company explained, "The new largest shareholder is a consortium formed to strengthen Stage Five's management rights and new business, with the management team directly participating as members of the consortium, reaffirming their commitment to responsible management."

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