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Kakao Entertainment is widely believed to be aiming to go public by the end of this year or early next year. The entertainment subsidiary of Kakao had long considered making a debut on the local stock market, yet the IPO plan has been delayed till now, amid strong criticism against the big tech firm s continuous split-off listings that harmed Kakao shareholders interests.
Kakao Entertainment is facing an imminent investment worth 1 trillion won ($785 million) from major global investors in its pre-IPO round. According to the investment banking industry Monday, the entertainment company is soon expected to sign a stock purchase agreement (SPA) with Singapore s sovereign wealth fund GIC and Saudi Arabia s Public Investment Fund (PIF) this month.