Seoul: Kakao Games Corp., a game publishing unit of South Korean tech giant Kakao Corp., announced plans to raise 240 billion won (US$160.3 million) through a stock sale. The capital raised from this stock offering is intended to support the company's operational financing.

According to Yonhap News Agency, a regulatory filing disclosed that Kakao Games will issue approximately 17.45 million common shares at a price of 13,747 won per share. The shares will be sold to designated investors as part of the company's strategic financial plan.