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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Hanwha Investment & Securities has decided not to sell its stake in Dunamu to Naver.
Speculation over a potential sale emerged following plans for a comprehensive stock swap between Naver Financial and Dunamu. However, the company has chosen to maintain its existing shareholding.
In a regulatory filing on the 23rd, Hanwha Investment & Securities stated, “In relation to Dunamu’s decision on a stock exchange and transfer, the company currently has no plans to sell its 5.94% stake in Dunamu.”
Dunamu is the operator of Upbit, South Korea’s largest cryptocurrency exchange. Hanwha Investment & Securities acquired 2,069,450 shares of Dunamu in 2021 for approximately KRW 58.3 billion, with a view toward potential entry into the digital asset business.
Previously, in disclosures dated September 29 and October 28 last year, Hanwha Investment & Securities said it was reviewing various options regarding its Dunamu stake, including continued holding, appraisal rights, or a potential sale, while emphasizing that no specific decision had been finalized at the time.
Meanwhile, Dunamu, Naver, and Naver Financial held board meetings on November 26 last year and approved a comprehensive stock swap. Under the decision, Dunamu is set to become an affiliate of the Naver Group, with the stock exchange ratio between Naver Financial and Dunamu set at 1 to 2.54.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
