Naver Financial to pursue IPO within 7 years of Dunamu stock swap

Naver and Dunamu, the operator of South Korean crypto exchange Upbit, have agreed to pursue an initial public offering (IPO) for Naver Financial following their stock swap, SBS Biz reported. The two companies have reflected this agreement in their investor contract. Under the terms, the goal is to list Naver Financial within five years of the stock swap's completion date of Nov. 26, with a possible extension of up to two years. However, specific details regarding the timing and method of the listing have not yet been finalized. This development follows an announcement from Dunamu at a shareholder meeting on Oct. 31, where it stated plans to begin its own IPO process in earnest once the comprehensive stock swap with Naver Financial is complete.