US EditionNaver's Payment Arm to Acquire South Korean Crypto Exchange Operator in $10 Billion Deal
- Naver Financial Corp. decided to acquire Dunamu Inc., the operator of Upbit, as a wholly owned subsidiary.
- The acquisition will occur through a share-swap deal of 2.54 shares in Naver Financial for each Dunamu share.
- This deal aims to expand Naver's portfolio in digital finance and blockchain-based services.
- Shareholder approval will be sought before starting integration procedures.
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Channel News Asia
PressNewsAgencyNaver's payment arm to acquire South Korean crypto exchange operator in $10 billion deal
SEOUL :Naver Financial, a unit of South Korean internet giant Naver, has agreed to acquire Dunamu, an operator of the country's largest cryptocurrency exchange Upbit, in an all-stock deal valued at 15.13 trillion won ($10.27 billion). The payment platform said in a regulatory filing on Wednesday that the deal
Naver to Acquire Crypto Exchange Upbit’s Parent Dunamu
Naver Corp. agreed to acquire Dunamu Inc., operator of South Korea’s biggest crypto exchange Upbit, in an all-stock deal valued at around $10.3 billion, as the internet giant seeks to cement its foothold in the country’s digital-assets market.
[Seoul Economic Daily]
Naver Financial and Dunamu Announce Stock Exchange Ratio, Leading to Strong Aftermarket Performance.
[Digital Daily Reporter Park Ki-rok] Naver's stock price closed at 263,500 won, up 4.15% from the previous day, during the regular KOSPI session on the 26th. As of 5 p.m., the stock was trading at a 5.73% higher price in the aftermarket, 1.6 percentage points higher than the regular session price. This is due to the officialization of the "stock exchange ratio" announced by Naver after the market close, for the incorporation of Naver Financial a…
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