Naver (NAVER) shares were weak in early trading on the 27th. With the merger catalyst with Dunamu, which had driven the stock's gains, disappearing, it is seen as profit-taking pressure emerging.
As of 10:19 a.m. that day, Naver was trading at 256,500 won, down 7,000 won (2.66%) from the previous session.
The previous day, ahead of the merger announcement between Naver Financial and Dunamu, Naver shares closed at 263,500 won, up 4.15% from the prior session. After the regular session ended and a related filing was released, the stock jumped more than 7% in the after-market.
However, it is interpreted that a wave of profit-taking orders in early trading led to weakness in the share price.
The corporate value ratio between Dunamu and Naver Financial was set at 1 to 3.064569. The share exchange price ratio, taking into account the total number of shares issued, is 2.5422618 to 1. Dunamu shares were valued at 439,252 won per share, and Naver Financial at 172,780 won.
An Jae-min, an analyst at NH Investment & Securities, said, "Naver will secure the voting rights of the No. 1 and No. 2 shareholders of Naver Financial after the share exchange is completed, keeping Naver Financial as a consolidation subsidiary, and accordingly operating profit will grow to more than 4 trillion won after the merger is completed in 2027."