Kakao to Sell 430 Billion Won Worth of SK Square Shares... "Securing AI Investment Resources"

[Financial News] Kakao is set to sell its 430 billion won worth of SK Square shares.
Kakao's investment subsidiary, Kakao Investment, announced on the 11th that it plans to sell 2,486,612 shares of SK Square for 429.68655 billion won.
Kakao Investment explained the purpose of the disposal as "securing resources for future investments such as artificial intelligence (AI)." These shares were held since the SKT era before SK Square was spun off. The per-share sale price is 172,800 won, applying a discount rate to the previous day's closing price (183,600 won).
In April, SKT sold all of its approximately 400 billion won worth of Kakao shares. However, Kakao will maintain its 1.79% stake in SK Telecom held by Kakao Investment.


yjjoe@fnnews.com Yoonju Jo, Reporter