Dunamu Inquires About US Accounting Standards with EY
Dunamu's inquiry about the differences between US and Korean accounting standards with EY has reignited discussions about its potential listing in the US. While Dunamu acknowledged its plans to pursue an IPO, it stated that no decisions have been made regarding the country or method of listing. Dunamu mentioned, "We plan to pursue an IPO once the comprehensive stock exchange is completed," but added, "We have not yet decided in which country we will pursue the listing." Regarding the inquiry about accounting standards, Dunamu explained that it was a misunderstanding of their inquiry about the differences between Korean and US accounting standards. This matter has been interpreted in conjunction with the comprehensive stock exchange process between Dunamu and Naver Financial. The two companies have established a structure to exchange 2.5422618 shares of Naver Financial for each share of Dunamu. According to the Korea Exchange announcement, the scheduled date for the shareholders' meeting regarding the stock exchange is November 19, 2026, and the exchange and transfer date is set for December 31, 2026. Once the exchange is completed, Naver Financial will fully incorporate Dunamu as a subsidiary. The total number of issued shares for Dunamu has been disclosed as 34,865,870 common shares. This transaction requires government approvals, including the Fair Trade Commission's approval for corporate mergers. Dunamu is a key player operating Upbit in the domestic virtual asset market, and its operating revenue for the first half of this year was reported at 408.1 billion KRW, a 49.1% decrease compared to the same period last year. The details regarding Dunamu's potential US listing and its method will need to be confirmed through additional announcements or company statements.
-- Price
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