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[Alpha Biz=(Chicago) Reporter Paul Lee] The Financial Supervisory Service has begun an inspection of One Asia Apartment Partners, a private equity fund manager (PEF) suspected of being involved in Kakao's manipulation of SM prices.
According to financial authorities on the 23rd, when the arrest of Bae Jae-hyun, head of Kakao's investment division, was decided on the 19th, the Financial Supervisory Service launched an inspection of One Asia, which had a close relationship with Bae.
Financial authorities believe that One Asia and Kakao have a special relationship, and have been focusing on whether there was a communication before the acquisition of SM.
One Asia and 'Helios No. 1 Limited' collected more than 80 billion won (2.9%) in SM shares through IBK Investment & Securities' Pangyo branch on February 16.
The registered addresses of private equity funds in One Asia and Helios 1 are in the same building, while One Asia is a private equity fund management company that has had several transactions with Kakao in the past.
SM shares exceeded HYBE's tender purchase price of 120,000 won per share at the time, and HYBE eventually failed to make a public purchase. Hive also asked the Financial Supervisory Service to investigate the alleged manipulation of the market price during the Feb. 16 mass sales act.
In addition to the conspiracy to manipulate the market, the FSS and the prosecution are also suspected of violating their obligation to report large stock holdings (5% rule).
SM shares bought by Kakao and Kakao Entertainment in February accounted for 1,167,400 shares and 4.91% of SM-issued shares.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
