NXC, the holding company of Nexon, has acquired about 3 trillion won worth of shares in Nexon's Japanese subsidiary that were held by a Europe-based investment unit.
According to electronic disclosures filed with the Financial Supervisory Service (FSS) on Monday, NXC acquired 118,527,140 common shares (about 14.98%) of Nexon Co., Ltd., the Japanese subsidiary, held by NXMH B.V., a Europe-based investment unit, as of the 19th of this month. The payment for the shares is to be made with equity capital and overseas funds.
The total value of the acquired shares was 2.9898 trillion won, raising NXC's voting rights in Nexon to 46.38% from 31.4%. NXMH's voting rights, meanwhile, fell to 0.01%, holding voting rights for only 1,151 shares after the transaction and dropping off Nexon's list of major shareholders. NXMH is a wholly owned subsidiary of NXC. As a result, the group's overall voting rights ratio remained unchanged following the transaction.
The company explained that the share purchase is part of the group's financial strategy, aimed at unifying its Nexon ownership structure from indirect holding to direct holding to enhance asset management and financial efficiency.
