Bang Jun-hyuk, the chair of Netmarble and Coway, agreed to acquire 13.4% out of the 18.1% equity in Netmarble held by Tencent affiliate Han River Investment for 374 billion won.
Netmarble said on the 21st that the transaction was concluded as Tencent moved to dispose of part of its equity holdings. The company said, "To preemptively ease market uncertainty that could arise if a large volume were released into the market, Chair Bang Jun-hyuk, the largest shareholder, will directly acquire the equity."
Once the equity acquisition is completed, Chair Bang Jun-hyuk's Netmarble equity will increase from 24.93% to 38.34%.
Netmarble emphasized that, separate from the change in equity ties, the business partnership between Netmarble and Tencent will continue without disruption. The two companies plan to continue cooperation in various areas, including the global game business, based on the partnership they have built so far.
A Netmarble official said, "This equity acquisition is meaningful in that Chair Bang Jun-hyuk, as founder and largest shareholder, is clearly demonstrating his commitment to responsible management by directly raising 374 billion won, while preemptively easing market uncertainty stemming from a large equity change."