ChainThink reports that on June 29, South Korea’s Kiwoom Securities is in discussions with Bithumb regarding an equity stake through a third-party private placement, with the intention of acquiring shares through the subscription of new shares; the specific ownership percentage and investment amount are still under negotiation.
Previously, institutions such as Samsung, Mirae Asset, and Korea Investment Securities have also participated in equity investments in cryptocurrency exchanges. Bithumb stated that it is currently discussing various potential collaborations with financial institutions and corporations, but no specific plans have been finalized yet.
South Korea’s financial regulators are currently advancing the second phase of the Virtual Asset Act, proposing to cap the ownership stake of major shareholders in exchanges at 20%, with exceptions allowing an increase to 34%.
Bithumb Holdings, the current largest shareholder of Bithumb, holds 73.56% of the shares and may face significant selling pressure if relevant regulations are implemented.
Bithumb is also advancing its KOSDAQ listing plan, with Samsung Securities as the lead underwriter, and aims to enhance its valuation by separating its core trading business from new business segments.
It remains to be clarified whether Kiwoom Securities' investment constitutes a pre-IPO strategic financing and how it aligns with the listing timeline.