Tag: Naver

Upbit Plans Nasdaq IPO After Naver Merger: Report

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Dunamu, the parent company of South Korean crypto exchange Upbit, is reportedly looking to debut in the US after it finalizes its merger with local tech giant Naver. Dunamu wants to launch an initial public offering on the tech-heavy Nasdaq after its merger closes, which is expected to occur later this week, the Seoul Economic Daily reported on Monday.  Local outlet The Chosun Daily reported on Monday that Dunamu and Naver plan to hold separate board meetings on Wednesday to approve the merger. If passed by each board, the CEOs…

Naver Financial expected to gain control of Upbit through share-swap deal

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Key Takeaways Naver Financial, the fintech arm of Naver, is expected to acquire full control of Dunamu, the operator of South Korea’s prominent Upbit cryptocurrency exchange, via a share-swap deal. The acquisition would make Dunamu a wholly owned subsidiary of Naver Financial, positioning Naver as the direct owner of Upbit. Share this article Naver Financial, the fintech subsidiary of South Korea’s dominant internet portal, is expected to gain full control of Dunamu, the operator of Upbit cryptocurrency exchange, through a share-swap deal that the two firms are preparing to approve.…