Dunamu Sells Unlisted Naver Pay Shares for 29.4 Billion Won

Dunamu has sold its unlisted shares in Naver Pay to Naver. This move is seen as part of efforts to reorganize the shareholder structure of Naver Pay amid ongoing procedures for Dunamu to become a wholly-owned subsidiary of Naver Financial.

According to the Financial Supervisory Service's electronic disclosure system on June 17, Dunamu sold 179,999 shares of unlisted Naver Pay to Naver for 29.4 billion won.

Once the transaction is completed on June 30, Naver's holdings in unlisted Naver Pay will increase from 36,735 shares to 216,734 shares, raising its ownership stake from 5.77% to 34.04%. The remaining 65.96% will be held by Naver Financial.

Naver Financial is currently in the process of acquiring Dunamu through a stock exchange method. If the stock exchange proceeds as planned, Naver Financial and Dunamu will establish an IPO committee to pursue a public listing for Naver Financial within the next seven years.