Naver Financial confirmed today its merger with Dunamu, operator of the Upbit cryptocurrency exchange, through a stock swap. The information appears in the DART system of South Korea’s Financial Supervisory Service.
The transaction will make Dunamu a wholly-owned subsidiary of Naver Financial. The company will issue 87.56 million new shares, valued at 15.13 trillion won (USD 10.28 billion). The exchange will take place on June 30, 2026.
Both companies will expand their strategic cooperation in digital finance. Naver reported revenue of 3.14 trillion won (USD 2.32 billion) in the third quarter, while Dunamu recorded 385.9 billion won (USD 262.87 million) in the same period.
Source: DART System
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