Kakao Decides on 0.44% Capital Reduction

Kakao announced on the 14th that it has decided to reduce its capital by 0.44% to cancel treasury shares acquired during the merger process with Kakao M.

As a result of this capital reduction, the number of issued shares will decrease from 444,999,087 to 443,032,591. The capital will decrease from 44.5 billion KRW to 44.3 billion KRW.

Kakao explained, "Only 1,966,496 out of the 6,638,054 treasury shares held by the company will be arbitrarily and gratuitously canceled, so there will be no change in the shares owned by general shareholders."

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