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| 카카오와 하이브 사옥. (사진= 연합뉴스) |
[Alpha Biz=(Chicago) Reporter Paul Lee] SM Entertainment's stock price soared, surpassing Kakao's open purchase price of 150,000 won. Observations that HYBE, which failed to make its first public offering, will take action, including a second round of public offering, boosted stock prices. If the stock price rises more than KRW 150,000, Kakao's public purchase will also fail.
On the other hand, shares of Kakao and HYBE, which are engaged in a takeover race without concessions, plunged.
According to the Korea Exchange on the 8th, SM shares closed at 158,500 won, up 5.88% from the previous day. SM shares soared to 161,200 won during the day. Kakao surged 15.07% on the 7th compared to the previous day when Kakao announced that it would make an open purchase for 150,000 won, and gained strength for two consecutive days. On the day of the announcement, it rose close to the open purchase price of 150,000 won, and exceeded 160,000 won during the day.
Shares of "three domestic entertainment companies," including JYP Entertainment and YG Entertainment, as well as SM, rose en masse on the same day. JYP Entertainment rose 2.7% to 80,000 won and YG Entertainment rose 1.3% to 60,300 won.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
