Korea Exchange Receives Kakao’s Preliminary Listing Application for Split Re-listing

The Korea Exchange (KRX) announced today (August 21) that it has received the preliminary application for the split re-listing of Kakao's shares on the KOSPI market.

The exchange explained, "The applicant company plans to spin off its KakaoTalk-based artificial intelligence (AI) business and advertising business divisions through a corporate split for re-listing, while the surviving entity will continue to operate its fintech, content, and mobility businesses."

Earlier in the day, Kakao held a board of directors meeting and resolved to split into Kakao AI (a new entity) and Kakao X (the surviving entity).

Based on the book value of net assets, the split ratio is set at 0.36 for Kakao AI and 0.64 for Kakao X, and existing shareholders will be allocated shares in both companies according to the split ratio.

The company plans to hold an extraordinary general meeting of shareholders on December 17, complete the split on January 1 of next year, and pursue the re-listing of Kakao AI and the change of listing for Kakao X on the 27th of the same month.

As of last year, Kakao held total assets of 27.7835 trillion won and total equity of 15.2249 trillion won on a consolidated basis.

Additionally, the company recorded operating revenue of 8.0991 trillion won and an operating profit of 732 billion won over the past year.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.