[Special Stock] Kakao Rises on Stock Split

[Asia Economy Reporter Song Hwajeong] Kakao, which decided on a stock split, is showing strength.

As of 9:10 AM on the 26th, Kakao was trading at 489,500 KRW, up 5,000 KRW (1.03%) from the previous day.

The day before, Kakao held a board meeting and announced that it decided to split the par value of common stock from 500 KRW to 100 KRW per share to increase the number of circulating shares.

Accordingly, the number of issued shares of Kakao will increase from 88,704,620 shares to 443,523,100 shares. After trading is suspended from April 12 to 14, the new shares are scheduled to be listed on the 15th.