Mirae Asset backs Korbit operator with US$41.9M capital injection
What's the deal? Digital X, the operator of South Korean cryptocurrency exchange KorbitDealroom has a profile for this one. Try Dealroom →, is raising US$41.9M through a third-party allocation capital increase. The company’s board resolved to issue 17.86 million new common shares at US$4.16 each, all allocated to its largest shareholder, Mirae Asset ConsultingDealroom has a profile for this one. Try Dealroom →.
Why now? This is the first capital expansion since the company was folded into Mirae Asset GroupDealroom has a profile for this one. Try Dealroom → and renamed. Korbit changed its corporate name to Digital X on August 11, though the Korbit exchange brand will remain in use for now.
Who's behind it? Mirae Asset Consulting already holds a 97.15% stake in Digital X. It acquired Korbit for roughly US$109M, a deal the Fair Trade Commission approved last month.
The signal: The injection points to Mirae Asset deepening its commitment to crypto infrastructure as a traditional financial group builds out a digital asset arm.
Read more: Yonhap Infomax
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