Woori Financial Group Inc. (KOSE:A316140) signed a contract to acquire 59.83% stake in Woori Investment Bank Co., Ltd. (KOSE:A010050) from Woori Bank for approximately KRW 390 billion on June 21, 2019. Woori Bank will sell 403.4 million shares at a price of KRW 973.7 per share. The transaction is expected to close on September 10, 2019, (subject to change).

Woori Financial Group Inc. (KOSE:A316140) completed the acquisition of 59.83% stake in Woori Investment Bank Co., Ltd. (KOSE:A010050) from Woori Bank on September 10, 2019. Upon completion, Woori Investment Bank become a direct subsidiary.