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On the 26th, SNK signed a stock transfer agreement with Saudi Arabian game company'Electronic Gaming Development Company (EGDC)', which entails a change of the largest shareholder. Through this, SNK shares purchased by EGDC amounted to 6,06,579,98, and the transfer price alone amounted to 207.3 billion, 4572 million won. The related transfer agreement will also include 94,7781 shares of China's Perfect World, the current second largest shareholder.
When all related contracts are terminated, EGDC becomes the largest shareholder by securing a total of 701,3579 shares (33.3%). Juikaku and PerfectWorld have also left an opportunity to subscribe to stocks through tender purchases, but there is no guarantee that they will acquire shares as it depends on whether the terms of EGDC are fulfilled.
The largest shareholder of EGDC that takes over SNK is Mohamed bin Salman bin Abdulaziz Al-Saud Foundation, which owns 100%.
