Monday, May 04, 2009

It was yesterday the BOFi not DA has announced formally the merger of BOFi with DA. Today news about the merger are in several portal. Here's one as shared by Joanne on BYJ's Quilt.

Smileyangelhs posted this on the Talk Box of BYJ's officlal home.
Korean to English translation by Joanne on BYJ's Quilt

BYJ's company merged with (stock exchange) listed company in Japan, expects a big hit
[Money Today]5/3/09 17:02

Attention is concentrating if BYJ would exert power again as a stock wealthy in Japan.

BOF International(BOFi), affilate of The Key East (Pyo Jongrok, CEO), announced on past 1 that it merged with Digital Adventure (DA), a Japanese company listed in stock exchange, as of that day.

Accordingly, BYJ's Japanese official site, Gosireh Group, traditional Korean restaurant, and BOFi, general entertainment shopping site, that had been managed by the BOFi, will be managed by DA.

DA absorbed and merged the BOFi, and extinguished stocks of BOFi will be replaced by common stock of DA, continuing company. Majority of BOFi stocks are held by Key East at 62% and BYJ at 32%.

In expecatant feeling for the merger, the stock price went up close to 50% from the time of decision for the merger. Although the stock price recorded at 85 yen on 11/26 (08), when merger was decided, the stock price recorded at 128 yen on past April 30.

Because the stock market was not open on 1, due to Labor Day holiday, the movement of the stock price is expected to be known by around 4.

So, although detalied conditions are not known, BYJ is expected to earn huge profit by receiving stocks of DA.

By the way, stock price of the Key East recorded 2910 won on 4/30/09, up by 60 won(2.11%).

Reported by Kim Keonwoo
Copyright (c) Money Today

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