SEOUL (dpa-AFX) - Naver Financial Corp., a subsidiary of South Korea-based Naver Corp., Wednesday announced the decision to acquire Dunamu Inc., the operator of cryptocurrency exchange Upbit, in a share-swap deal.
The fintech company added that each Dunamu share will be exchanged at 2.54 shares in Naver Financial, valuing the deal at about 15.1 trillion won, equivalent to $10.3 billion.
The acquisition is expected to help the company to expand its portfolio into digital finance, creating a new mega financial platform for cryptocurrencies.
Shareholders of both companies will vote on this decision at the general meetings on May 22, 2026.
On November 24, Naver's stock closed at $115 on the OTC Markets.
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