Deep Tide TechFlow News, on December 4, according to South Korean media reports, South Korean venture capital company Woori Technology Investment plans to sell its 7.22% stake in Upbit operator Dunamu through a block trade. According to data from the South Korean Financial Supervisory Service's electronic disclosure system, this stake is currently valued at approximately 425.3 billion won (about 30.1 million USD). Woori Technology invested 5.5 billion won (about 3.89 million USD) in Dunamu in 2015. At the current market value, the return on investment is nearly 73 times.
According to investment banking insiders, the sale price may be significantly higher than the over-the-counter market price. As of the time of writing, Dunamu's stock closed at 189,000 won on the 'Securities Plus Non-Listed' platform, with a total market capitalization of approximately 5.89 trillion won. Considering the current positive trend in the cryptocurrency asset market, Woori Technology believes this is an appropriate time to exit. Due to regulatory restrictions on domestic financial institutions, the company is seeking overseas investors to take over. Dunamu will hold an extraordinary shareholders' meeting on December 17 to discuss changes related to shareholders holding more than 5%.