The merger ratio was approximately 1.14 so it is regarded as backdoor listing for Kakao .
In 2014 , South Korean Internet giant Daum Communications merged with Kakao Corp to form Daum Kakao in a stock swap deal .
The merger ratio was approximately 1.14 so it is regarded as backdoor listing for Daum Kakao .
In 2014 , South Korean Internet giant Daum Communications merged with Kakao Corp to form Daum Kakao in a stock swap deal .