Samsung affiliates to buy 4% of Upbit operator Dunamu for $408M on May 28

On May 28, Samsung Securities, Samsung SDS, and Samsung Card said they will jointly buy a 4% stake in Dunamu, the operator of South Korea's largest crypto exchange Upbit, for about 612.8 billion won ($408 million). The shares are being acquired from Kakao-affiliated funds at around 439,250 won per share, implying a Dunamu valuation of roughly 15.3 trillion won, with closing scheduled for June 19.