Dunamu, the operator of digital asset exchange Upbit, said it will step up plans for an initial public offering in line with completion of a comprehensive share-swap process with Naver Financial. It said it has sufficient funds to respond to possible large-scale exercises of appraisal rights during the merger. Dunamu said it is undergoing regulatory approval procedures and has not decided on a listing venue.

Naver said on March 30 it has postponed by about three months the schedule for shareholder meetings and the closing of a comprehensive share swap involving its subsidiary Naver Financial and Dunamu. The shareholder meetings to approve the deal have been moved to Aug. 18 from May 22. The transaction closing date has been revised to Sept. 30 from June 30. Naver said it adjusted the schedule to ensure a stable closing while procedures, including approvals, are under way.