(Photo = Yonhap news)

 

[Alpha Biz= Reporter Paul Lee] Kakao issues 212.2 million dollars worth of foreign exchange bonds (EB) at a premium of 30%. The funds raised will be used for mergers and acquisitions (M & A) and for the purchase of graphics processing units (GPU), artificial intelligence (AI) semiconductors.

Kakao announced today (23rd) that it will issue $ EB 212.2 million worth of treasury stock based on 4.59 million shares.

Kakao started recruiting investors to issue exchange bonds yesterday (22nd) and secured a total investment demand of $ 1.4 billion.

The final exchange price is set at 63,700 won, a 30% premium from yesterday's closing price (49,000 won). The expiration date is April 29, 2029, five years later, and the interest rate is 2.625%.

Kakao plans to use 100 billion won as operating funds and 193 billion won as acquisition funds for securities of other corporations.

The remaining 100 billion won is expected to be used to purchase GPU and servers for AI services.

 

 

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