PIF, Singapore’s GIC plan to invest $785 mln in Korea’s Kakao Entertainment

03/01/2023 Argaam

PIF, Singapore’s GIC plan to invest $785 mln in Korea’s Kakao Entertainment

Logo of Public Investment Fund (PIF)

Saudi Arabia’s Public Investment Fund (PIF) and Singapore’s sovereign wealth fund GIC are expected to invest $785 million in Kakao Entertainment Corp., The Korea Times reported.

 

The company is expected to sign a share purchase agreement with the two funds this month, as it plans to use the new investments to accelerate its growth, the newspaper added.

 

Kakao Entertainment previously planned to go public in H2 2022 but postponed this step in light of market uncertainty and instead decided to enter investment rounds to finance growth.

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