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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, August 25, 2025 — The Ministry of Economy and Finance announced that the preliminary bidding for the sale of NXC tax-paid shares once again failed to attract bidders, with the process closing at 5:00 p.m. on August 25.
The shares in question consist of 851,968 common shares in NXC, the holding company of Nexon, representing a 30.6% stake. These shares were transferred to the government as tax payment in kind by the family of the late Nexon founder Kim Jung-ju.
The stake is valued at between KRW 4.5 trillion and KRW 5 trillion. IBK Investment & Securities is serving as the lead manager of the transaction.
While some in the investment banking industry had speculated that China’s Tencent might participate, the company ultimately did not submit a bid. The government is reportedly preparing to issue a new tender notice soon in order to secure tax revenues.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
