When will Kakao Entertainment debut on bourse?

• Published date: 28 February 2023
• Publication title: The Korea Times

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.

According to industry sources, the entertainment company sees that the timing will be right for them to go public either by the end of this year or early next year. Yet, the company refused to outline its stance on the matter in detail.

"The company is examining various options, but nothing has been confirmed (regarding the IPO plan)," an official from Kakao Entertainment said. "If specific plans are confirmed, the company will announce them," the official added.

Kakao Entertainment grew to be a major entertainment force in the country, as it acquired KakaoPage, KakaoM ? music distribution business ? back to back last year, following the firm's previous acquisition of Melon Company, Korea's largest music streaming service in July, 2021. Kakao purchased a 76.4 percent stake of Melon Company's operator Loen Entertainment at 1.87 trillion won ($1.4 billion) in 2016, yet Melon Company was split-off from Kakao in 2021, only to be acquired by Kakao Entertainment in the same year. The firm also acquired Antenna...