Summary
- Hanwha Investment & Securities disclosed that it will keep its 5.94% stake in Dunamu for the time being, rather than selling it to Naver.
- It said it chose to hold the stake instead of taking profits, citing the medium- to long-term growth potential of the virtual-asset industry.
- It noted that the appraisal-rights price is 439,252 won per share, more than 15 times the acquisition price, but decided not to transfer the stake.
Hanwha Investment & Securities has decided not to sell its stake in Dunamu held through Naver. As a comprehensive share swap between Naver Financial and Dunamu was being pursued, the possibility of a stake sale had been raised, but Hanwha Investment & Securities has opted to maintain its Dunamu holdings for the time being.
According to the Financial Supervisory Service on the 23rd, Hanwha Investment & Securities disclosed that it has no plans to sell its 5.94% stake in Dunamu. While it reviewed a possible sale, it decided to hold the stake rather than realize gains, citing the medium- to long-term growth potential of the virtual-asset industry.
Earlier, Dunamu and Naver Financial decided on a share swap in November last year. Under the deal, Naver Financial would bring Dunamu in as a wholly owned subsidiary. Before the merger is finalized, the possibility of an exit by major shareholders—including Hanwha Investment & Securities, Kakao Investment, and Woori Technology Investment—had been discussed.
In this process, Hanwha Investment & Securities considered a plan to transfer its Dunamu stake to Naver. If Hanwha Investment & Securities opposes the integration of the two companies, it can exercise appraisal rights and sell its holdings at 439,252 won per share. That is more than 15 times its acquisition price in 2021 of 28,186 won per share.
Reporter Choi Dae-eun max@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
