Naver Announces KRW 1.48 Trillion Third-Party Allotment Capital Increase to NVIDIA

NVIDIA Acquires 4.5% Stake in Naver, Becomes Third-Largest Shareholder

Naver to Cancel 4.9 Million Treasury Shares Worth KRW 1 Trillion

Naver announced on the 27th that it has decided to conduct a third-party allotment capital increase worth KRW 1.48 trillion to NVIDIA.

This third-party allotment capital increase is being carried out with the aim of advancing new artificial intelligence (AI) factory operations.

Naver Headquarters in Seongnam, Gyeonggi Province. Photo by Jinhyung Kang aymsdream@

This investment by NVIDIA is a follow-up measure to the agreement signed in June to jointly build a gigawatt-scale global AI factory. This marks the first time Naver has conducted a third-party allotment capital increase in 22 years and is the first instance since its re-listing on the KOSPI in 2008.

Through this investment, NVIDIA will acquire a 4.5% stake in Naver (7,241,564 common shares). Once NVIDIA completes the acquisition of Naver shares, it will become the third-largest shareholder. The payment deadline is October 30, and the new shares will be listed on November 20.

Additionally, Naver announced that it has decided to cancel 4.9 million treasury shares worth KRW 1 trillion on August 3.

This content was produced with the assistance of AI translation services.