Hanwha Investment to buy another $440M stake in Upbit operator Dunamu

Hanwha Investment & Securities will acquire an additional stake in Dunamu, the operator of the South Korean crypto exchange Upbit, News1 reported. The company announced on May 20 that its board of directors approved the cash acquisition of 1,361,050 Dunamu shares for 597.8 billion won ($439.6 million). The purchase, scheduled for June 15, represents 28.91% of Hanwha's consolidated equity capital as of the end of last year. Following the acquisition, Hanwha's total holdings in Dunamu will increase from 5.94% to 9.84%, totaling 3,430,500 shares.