[Bitcoin Now] Unlisted Dunamu Hits Highest Price in Over 3 Years...Anticipation for US Nasdaq Listing

The stock price of Dunamu, an unlisted company, hit its highest level of the year following expectations of a potential listing on the US stock market after being incorporated as a subsidiary of Naver.

According to Securities Plus Unlisted on September 30, Dunamu recorded a reference price of 396,000 won on this day, up 3.94% from the previous trading day. This is the highest price in approximately three years and five months since April 25, 2022, when it last reached 396,000 won. At one point, the price even climbed to 410,000 won.

Dunamu's stock price had dropped to 308,000 won on September 25, when plans for its incorporation as a Naver subsidiary were announced, but has since risen for three consecutive days.

Dunamu and Naver Financial, a subsidiary of Naver, are reportedly pursuing a merger through a comprehensive stock swap. The rise in Dunamu's stock price is attributed to expectations that the merged entity will seek a listing on the Nasdaq in the United States.

The securities industry has projected that if Dunamu and Naver Financial successfully merge and go public, the combined company could be valued at a minimum of 40 trillion to 50 trillion won.

It is also expected that Song Chi-hyung, chairman of Dunamu, will become the largest shareholder of the merged entity. Cho Taena, a researcher at Eugene Investment & Securities, stated, "The current market estimates the corporate value ratio of the two companies at roughly 4 to 1. If the stock swap is carried out according to this ratio, Chairman Song Chi-hyung's 25.5% stake in Dunamu will translate to a 20% stake in the merged entity, while Naver, which owns 69% of Naver Financial, will hold 13.8% of the merged company."

She added, "In other words, immediately after the merger, the merged entity's ownership structure will be Song Chi-hyung with 20%, Naver with 13.8%, and the remaining shares held by minority shareholders of Dunamu and Naver Financial."