Alphabiz - HYBE acquires an additional SM stock of 104.3 billion won.

하이브 본사 (사진=연합뉴스)

[Alpha Biz=(Chicago) Reporter Paul Lee] HYBE announced on the 28th that it will acquire 868,948 shares of SM Entertainment for 104.3 billion won.

With this acquisition, Hive's stake in SM will be 12.6%. The stock acquisition date is the 7th of next month.

HYBE said the purpose of the acquisition was "to acquire shares based on the exercise of Lee Soo-man's put option (right to purchase shares)."

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)