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Kakao's game unit plans to go public next year

All Headlines 11:20 September 28, 2017

SEOUL, Sept. 28 (Yonhap) -- Kakao Games Co., the mobile game subsidiary of Kakao Corp., the operator of South Korea's dominant messaging app, plans to launch an initial public offering next year, a company official said Thursday.

The planned IPO is part of Kakao Games' strategy to make inroads into global markets and develop new businesses, the official said.

Kakao Games named Korea Investment & Securities Co. as a lead manager for the planned IPO, according to the official.

The company did not say how many shares it plans to offer nor did it estimate the share price.

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