Naver's Japanese Subsidiary Acquires Line for 1.0722 Trillion Won per Share
[Asia Economy Reporter Song Seung-yoon] Naver announced on the 28th that its Japanese subsidiary Naver J-Hub will acquire 1 share of another Japanese subsidiary, LINE, for 1.0722 trillion KRW.
Naver J-Hub publicly purchased 15,617,335 shares of LINE, achieving a 50% stake. Subsequently, LINE was delisted, and the total number of issued shares was consolidated from 241,544,142 shares to 8 shares.
As a result, the shares of LINE owned by shareholders other than Naver J-Hub amounted to less than one share, so LINE, with approval from the Japanese court, decided to sell this fractional share to Naver J-Hub and SoftBank.
Hot Picks Today
"You Might Regret Not Buying Now"... Overseas Retail Investors Stirred by News of Record-Breaking Monster Stocks' IPOs
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- Mistaken for the Flu, Left Untreated... Death Toll Surges as WHO Declares Emergency (Comprehensive)
- Koo Yoon-chul: "$10.9 Billion Inflow After WGBI Inclusion... Accelerating Reforms in Forex and Capital Markets"
- "How Did an Employee Who Loved Samsung End Up Like This?"... Past Video of Samsung Electronics Union Chairman Resurfaces
Once this process is completed, LINE will become a consolidated subsidiary of SoftBank, with Naver and Naver J-Hub holding 50% and SoftBank holding the other 50% stake.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
