Yelopay Corporation (XKON:A179720) agreed to acquire 33.55% stake in Lending Machine Co., Ltd. from a group of shareholders for approximately KRW 690 million on December 8, 2020. Yelopay Corporation will issue 27.412156 shares for every one share of Lending Machine Co., Ltd. Payment of the consideration would be done on March 5, 2021. As of December 31, 2019, Lending Machine Co., Ltd. reported total assets of KRW 652.73 million, Net income of KRW 7.99 million and operating loss of KRW 7.27 million.

The transaction is expected to close on February 23, 2021.