{"id":129733,"date":"2026-08-24T03:42:11","date_gmt":"2026-08-24T03:42:11","guid":{"rendered":"https:\/\/www.europesays.com\/korea\/129733\/"},"modified":"2026-08-24T03:42:11","modified_gmt":"2026-08-24T03:42:11","slug":"dunamu-to-pursue-ipo-after-share-swap-with-naver-financial","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/korea\/129733\/","title":{"rendered":"Dunamu to pursue IPO after share swap with Naver Financial"},"content":{"rendered":"

IPO committee to be formed within a year of share exchange<\/p>\n

Listing venue not yet decided<\/p>\n

\"Executives Executives from Naver, Naver Financial and Dunamu present at a joint press conference held at Naver 1784 in Seongnam, Gyeonggi Province, in November last year. [Naver] <\/p>\n

Dunamu said Monday it plans to pursue an initial public offering as soon as its comprehensive share exchange with Naver Financial is completed.<\/p>\n

“We plan to pursue a listing once the comprehensive share exchange with Naver Financial is finalized,” the company said, adding that no decision had been made on which country the listing would be pursued in.<\/p>\n

Dunamu and Naver Financial have agreed to list Naver Financial’s shares on a stock exchange as quickly as possible after the share exchange is completed. To that end, they plan to form an IPO committee for Naver Financial within one year of completing the exchange.<\/p>\n

Market observers widely expect Naver Financial to list on NASDAQ in the form of American depositary receipts. Dunamu is believed to have already completed converting its financial statements to US GAAP in preparation for such a move.<\/p>\n

Listing either Naver Financial or Dunamu \u2014 which will become a subsidiary after the share exchange \u2014 on the domestic stock market would likely draw controversy over the dual listing of a parent and subsidiary. A US listing would also allow the companies to enter American markets while maintaining their domestic corporate structure, without setting up a separate holding company in the United States through a so-called “flip” restructuring.<\/p>\n

Dunamu and Naver Financial have been pursuing the comprehensive share exchange since September last year. The two companies valued Dunamu at around 15 trillion won ($10.8 billion) and Naver Financial at around 5 trillion won, and worked out a plan to exchange 2.54 Naver Financial shares for every one Dunamu share. A shareholder meeting related to the deal is scheduled for Nov. 19, with the share exchange set to take place on Dec. 31.<\/p>\n

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forest@heraldcorp.com<\/p>\n

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