[Market Focus] Saramin Rises on News of Remember&Company Sale

Saramin is showing strong performance. Expectations regarding the sale of Remember&Company, the operator of the business card management app 'Remember', appear to be influencing the stock price.

As of 9:45 a.m. on August 11, Saramin was trading at 15,170 won, up 6.23% from the previous trading day.

According to the investment banking (IB) industry, global private equity fund (PEF) manager EQT Partners is pursuing the acquisition of a stake in Remember&Company.

EQT has signed a stock purchase agreement (SPA) for a controlling stake with Ark&Partners, the largest shareholder of Remember&Company. Negotiations are underway to value Remember&Company at the mid-500 billion won range. In addition to Ark&Partners, EQT is reportedly in talks to acquire stakes from other major shareholders, including Line Plus and Saramin.

According to Saramin's business report, as of the end of last year, the company held a 22% stake in Remember&Company.