Kakao Corp has become the second Korean issuer in the space of a week to opt for a domestic equity-linked deal, announcing plans to raise W250 billion $219 million.
The Kosdaq-listed company’s decision follows hot on the heels of GS Engineering Construction GS EC, which is also raising W250 billion from a domestic convertible bond to refinance a previous dollar-denominated deal.
Unlike GS EC, Kakao has not previously issued in the international markets. However, a number of convertible bond traders told FinanceAsia the chat app and web search operator had been sounding out an international deal after it...
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