Kakao to Split Into Kakao X, Kakao AI; Shares Fall 10%

MT Newswires Live13:10

Kakao (KRX:035720) will split into two companies, with Kakao X serving as the surviving company, according to a Friday filing with the Korea Exchange.

The board-approved spinoff will also lead to the creation of Kakao AI, which will handle the KakaoTalk-based platform business and AI segment.

Following the split, Kakao X will focus on techfin, content and mobility.

The company has placed the split-off ratio at about 0.36 for Kakao AI and about 0.64 for Kakao X.

The company's existing shareholders will each receive Kakao AI and Kakao X shares proportionate to their holdings.

The split will be effective on Jan. 1, 2027, with the relisting of Kakao AI and the revised listing of Kakao X to be conducted on Jan. 27, 2027.

Shares of the company fell more than 10% in recent trade.

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