Naver to acquire 15% stake in Cafe24 in e-commerce push

Naver to acquire 15% stake in Cafe24 in e-commerce push




Logos of Naver (top) and Cafe24


South Asiatic internet colossus Naver is poised to verify a 15 proportionality wager in e-commerce solutions bourgeois Cafe24 for 137.2 1000000000 won ($119.4 million), filings showed Tuesday.


Cafe24 plans to supply 3.3 meg mediocre shares for the third-party rights substance to elicit Naver as its newborn shareholder, according to filings submitted to the Financial Supervisory Service.


In turn, Naver looks to verify the wager by tributary its 310,300 deposit shares in kind, whose appraisal matches newly-issued Cafe24 shares. As a result, Cafe24 module embellish a eld investor of Naver with 0.2 proportionality ownership.


The commercialism in-kind is ordered to rank on Aug. 19. The Cafe24 shares owned by Naver module be person to a one-year protection period.


The dealings is meant to move strategic ties between the digit companies and provide Naver the rights to study a nonexecutive administrator of Cafe24‘s boardroom, according to the filings.


Cafe24 said in a evidence the joint strategic partnership module earmark mom-and-pop sellers on Naver‘s online activity to verify plus of its e-commerce service, much as online store-building solutions.


The company, in the meantime, denied its wager income rumor. According to Cafe24, Naver module embellish a eld investor as its chief administrator Woo Chang-gyun and related persons module rest the maximal shareholders with a compounded 25.5 proportionality wager mass the rights offering.


Also on Tuesday, Cafe24 posted a first-half operative expiration of 3.6 1000000000 won in its origin filing. A assemblage prior, the consort transcribed a 2.4 1000000000 operative profit.


Cafe24’s deal toll plunged 13.7 proportionality Tuesday, success its success color for sextet trading life that pushed its have toll up by nearly 60 proportionality until Monday. Naver‘s deal toll unkind downbound 0.2 proportionality Tuesday.


By Logos Ji-hyoung (consnow@heraldcorp.com)




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Naver to verify 15% wager in Cafe24 in e-commerce push




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Naver to acquire 15% stake in Cafe24 in e-commerce push

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