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Actors Hyun Bin, Lee Min Ho and stylist Han Hye Yeon invested in Kakao M, a Kakao affiliated content company. The Kakao M is planning to open its business as Initial Public Offering, and has provided investment opportunities first for their celebrities and executives to strengthen their relationship.
According to the statement, the company held a board meeting on September 24th and decided to increase the capital of paid-in third-party allocation amounting to 688 billion won (56,871 shares issued and 12,2695 won per share). In June, an increase of 27.7 billion won (about 23 million dollars) was allocated to actors Lee Byung Hun, Song Seung Heon, and Kim Go Eun, followed by another increase in three months.By this new recapitalization, 17 individuals including celebrities and executives of Kakao M's subsidiaries and two institutional investors participated. Han Hye Yeon, a stylist who sold her company Maison de Baja to Graco, a subsidiary of Kakao M, invested 5 billion won in the capital increase.
Actor Hyun Bin, a member of VAST Entertainment, which Kakao M recently acquired, invested 3 billion won. Lee Min Ho, a member of MYM Entertainment, who is currently discussing strategic cooperation with Kakao M, invested 2 billion won, and GM Group, an investment company of MYM Entertainment, invested 4 billion won. Yoon Jong Bin, director of filmmaker Moon Gwang, recently acquired by Kakao M, invested 8 billion won. Yang Geun Hwan, CEO of Awesome ENT, which Kakao acquired, also invested 4 billion won.
Nonghyup Bank invested 33.6 billion won.
Kakao M explained, "The individuals who participated in the paid-in capital increase voluntarily set the amount."
In the investment banking industry, the capital increase, which has been conducted since June, is also interpreted as giving stock options to stock participants. If Kakao M is listed in the future, they can expect profits.
Kakao M is aggressively acquiring content producers such as entertainment companies and film companies.
source: Business Times
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