kakao

Equity investors barely murmured after a block from the Korean instant messaging app operator. But they gave a movie giant less-than-stellar reviews, sending its stock spiralling after its own block closed.

The transaction came as a surprise to the market since the Korean messaging app operator announced another domestic deal earlier this month.

For the second time in less than a week a Korean firm is shying away from the international bond markets in favour of a local issue.

Korea’s largest messaging app operator bids for controlling stake in Leon Entertainment as it looks to explore new growth engines following a slowdown in user growth.