Naver boosts Cream with 130 billion won rights offering investment

Naver said in a filing on the 4th that it will invest 130 billion won in Cream in the second half of this year.

With this investment, Naver plans to acquire 38,681 shares of Cream common stock.

The investment was made following the decision to participate in Cream's paid-in capital increase.

If the investment is completed within the year, Naver's total investment in Cream will increase to 178 billion won.

Naver said the purpose of the investment is "to raise funds to expand Cream's business scale."