OTOKI will invest 56.5 billion won in its U.S. subsidiary, OTOKI America Holdings.
According to an electronic disclosure from the Financial Supervisory Service on the 14th, OTOKI acquired 400,000 shares of OTOKI America Holdings. This is equivalent to approximately 2.6% of its equity capital ratio.
OTOKI will convert its existing lending of 35.3 billion won ($25 million) to equity and invest an additional 21.2 billion won ($15 million) in a new capital increase. The acquisition date is expected to be June 27.
OTOKI noted that this is for the purpose of expanding the local domestic market.
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