Upbit's parent company Dunamu and NAVER Financial's share swap postponed until March next year.

On Oct 7, according to Financial News, Dunamu, the parent company of South Korean crypto asset trading platform Upbit, disclosed on the 7th that it has postponed its comprehensive share swap plan with NAVER Financial to March of next year. The originally scheduled share swap reference date of December 31 this year has been changed to March 31 of next year, and the extraordinary general meeting to review the swap agreement has also been postponed from November 19 this year to February 26 of next year.

The share swap ratio remains unchanged, with each Dunamu share exchangeable for 2.5422618 NAVER Financial shares. Upon completion of the swap, NAVER Financial will become Dunamu’s wholly-owned parent company, while Dunamu will become its wholly-owned subsidiary. Additionally, the window for dissenting Dunamu shareholders to exercise their appraisal rights has been adjusted to run from February 26 to March 18 of next year, with an estimated buyback price of 439,252 KRW per share. Dunamu plans to cancel up to 2,731,916 shares, including treasury shares acquired through the exercise of appraisal rights, and the corresponding capital reduction reference date is also deferred to March 30 of next year.