BTHMB Holdings, which is to take over a company having a controlling stake in Bithumb, has made public its position on Dual Industrial’s alleged acquisition of Bithumb. On Tuesday, BTHMB Holdings said, “Bithumb’s largest shareholder BTHMB Holdings has no contract at present in relation to financial investment and acquisition involving Dual Industrial and SG BKGroup.” “It’s true that Dual and SG BKGroup offered to want to make a financial investment in BTHMB Holdings but no contract has ever been signed. And SG BKGroup has no decision-making authority over BTHMB Holdings’ funding,” BTHMB Holdings said.

Bithumb is operated by BTC Korea. BTC Korea’s biggest shareholder is BTC Holding Co. and BTHMB Holdings is seeking to acquire management shares in BTC Holding Co.

In its public notice Tuesday, Dual Industrial Co. will acquire 57.41% of SG BKGroup for 235.7 billion won. The deal will enable SG BKGroup to secure a considerable amount of cash. Dual plans to raise 210 billion won through rights offerings and issuance of bonds with warrant and convertible bonds. Investors such as Balhae Consortium will take part in Dual’s funding. /shim@decenter.kr

Shim Doo-bo