[Edaily Reporter Lee So-Hyun ] The number of new shares in Naver (NAVER(035420)) that NVIDIA will acquire through a $1 billion strategic investment has been finalized at 6,558,435 shares. This is 683,129 shares fewer than initially expected, and once the rights offering process is completed, NVIDIA’s stake in Naver is expected to be approximately 4.13%.

On the 3rd, Naver announced in an amended disclosure regarding the third-party private placement that it had revised the number of new shares to be issued from the previously announced 7,241,564 shares to 6,558,435 shares.

The amount raised in Korean won also decreased by approximately 139.7 billion won, from 1,480,899,838,000 won to 1,341,199,957,500 won.

This is due to the applicable exchange rate dropping from the previous 1,480.9 won per dollar to 1,341.2 won per dollar, which was finalized that day. NVIDIA’s total investment remains unchanged at $1 billion, and the issue price per share is maintained at 204,500 won. However, the number of new shares issued decreased as the won-denominated amount declined.

Consequently, NVIDIA’s projected ownership stake has decreased from approximately 4.54% to 4.13%. If the investment is finalized as planned, NVIDIA is expected to become Naver’s third-largest shareholder, following the National Pension Service and BlackRock.

The funds raised through this rights offering will be used for new businesses related to the AI Factory. Naver plans to invest 4.56 billion won this year, 626.743 billion won in 2027, and 709.897 billion won starting in 2028.

Previously, on the 27th of last month, Naver signed a $9 billion agreement with global alternative investment firm Brookfield to secure AI computing infrastructure, thereby fulfilling the precondition for attracting investment from NVIDIA.

NVIDIA’s investment is scheduled to be paid on the 6th, and the new shares are scheduled to be listed on the 27th. The new shares acquired by NVIDIA will be subject to a one-year lock-up period.