Games & Commerce

Kakao Games launches first shareholder returns under new management, burns 500,000 treasury shares

Kakao Games said on Tuesday it will implement its first shareholder return measures since listing, including cancelling 500,000 treasury shares, introducing a restricted stock unit plan and reducing capital reserves. It will burn 500,000 shares worth about 29.9 billion won on July 15, and use the remaining 354,009 shares for employee RSUs. The company also plans to transfer reduced capital reserves to retained earnings after shareholder approval.

Crypto

Strategy sells bitcoin to fund preferred dividends, posts $8.32 billion Q2 loss

Strategy booked an $8.32 billion valuation loss on its bitcoin holdings in the second quarter and sold 3,588 bitcoin for about $216 million in the same period. The company said the sale was to fund preferred dividend payments and to replenish dollar reserves used for those payments. It reported holding 843,775 bitcoin as of July 5, after buying more than 85,000 bitcoin during the period.