Woori Financial Group Inc. (KOSE:A316140) agreed to acquire remaining 44.46% stake in Woori Venture Partners Co., Ltd (KOSDAQ:A298870) for approximately KRW 120 billion on May 26, 2023. Woori Financial Group Inc. (KOSE:A316140) entered into a stock exchange agreement to acquire remaining 44.46% stake in Woori Venture Partners Co., Ltd (KOSDAQ:A298870) on June 1, 2023. As reported, Woori Venture Partners shareholders are to be allotted 0.2234440 shares of Woori Financial Group for each share of Woori Venture Partners. The total number of common shares to be newly issued by Woori Financial Group to the shareholders entitled to the stock exchange will be 9,933,246 shares. Following the transaction, Woori Venture Partners will become a wholly-owned subsidiary of Woori Financial Group. Woori Venture Partners is expected to be de-listed on August 28, 2023 in accordance with the relevant laws and procedures. Woori Financial Group is expected to obtain the approval of its board of directors in lieu of holding a shareholders? meeting for this stock exchange on July 21, 2023. The stock exchange was resolved by the Board of Directors of Woori Financial Group on May 26, 2023. As of July 21, 2023, the board of Woori Financial approved the transaction. The effective date of stock exchange is August 8, 2023.

Woori Financial Group Inc. (KOSE:A316140) completed the acquisition of the remaining 44.46% stake in Woori Venture Partners Co., Ltd (KOSDAQ:A298870) on August 8, 2023.