Kakao Bank of Korea announced a private placement of 2,000,000 shares at KRW 5,000 for gross proceeds of KRW 10 billion from returning investor YES24 Co.,Ltd (KOSDAQ:A053280) on April 19, 2018. The investor will hold 5,200,000 shares representing 2% equity ratio post closing of the transaction. The transaction is expected to closed on April 26, 2018.

The company reported total assets of KRW 5,842,204 million, total liabilities of KRW 5,174,348 million, total capital KRW 667,857 million, net profit of KRW -104,491 million, and operating revenue of KRW 68,911 million for the year ended December 31, 2017. The transaction has been approved by board of directors of the investor.