Dunamu said on the 17th that it will sell 179,999 shares of unlisted Naver Pay stock to Naver for 29.4 billion won. Naver Pay Unlisted is the operator of the unlisted stock trading platform "Securities Plus Unlisted." With this transaction, Naver's equity stake in Naver Pay Unlisted will increase from 5.77% to 34.04%. The largest shareholder of Naver Pay Unlisted is Naver Financial, which holds 65.96%.
In the industry, the view is that while Naver Financial maintains its status as the largest shareholder, parent company Naver acquired the remaining equity to simplify the equity structure.
Naver Financial is currently pushing a procedure to make Dunamu a wholly owned subsidiary through a stock exchange and is undergoing a corporate combination review by the Korea Fair Trade Commission (FTC). The Korea Fair Trade Commission (FTC) recently began examining how the combination of an unlisted stock brokerage platform and a virtual asset transaction exchange would affect market competition, targeting major securities firms.
If the stock exchange proceeds as scheduled, Naver Financial and Dunamu plan to form an initial public offering (IPO) committee to pursue Naver Financial's listing. Under the investor agreement, the listing deadline is up to seven years.