Mirae Asset Consulting, an affiliate of Mirae Asset Group, has acquired additional shares in Korbit, a cryptocurrency exchange. As a result, Mirae Asset Consulting's stake rose from the previous 92% to 97%.
Mirae Asset Consulting said in a revised regulatory filing on the 21st that it had decided to acquire an additional 1,589,859 Korbit shares for 7.887 billion won.
With this decision, the size of Korbit shares held by Mirae Asset Consulting increased from 26,905,842 shares (133,479,882,162 won) to 28,495,701 shares (141,367,172,661 won). The planned acquisition stake also rose from 92.06% to 97.15%, an increase of 5.09 percentage points.
Mirae Asset Consulting plans to first acquire a 91.7% stake in Korbit on the 22nd, then take over the remaining 5.42% stake on the 24th. "Some corporations holding Korbit shares expressed their intention to sell, so we decided to acquire the remaining stake," a Mirae Asset Group official said, adding that the move was aimed at securing future growth engines based on virtual assets.
Earlier, the Fair Trade Commission (FTC) approved Mirae Asset Consulting's acquisition of Korbit on the 9th of this month. It marks the first case of a financial group affiliate acquiring a cryptocurrency exchange. The FTC judged that even if Mirae Asset Consulting purchased Korbit shares, the possibility of restricting market competition was not high because Korbit's market share is not large. Mirae Asset is expected to review launching products such as listed stock investment platforms and virtual asset-based exchange-traded funds (ETFs) by utilizing its financial affiliates, according to sources.
