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| 하이브 본사 (사진=연합뉴스) |
[Alpha Biz=(Chicago) Reporter Paul Lee] HYBE acquires additional SM Entertainment shares.
HYBE announced on the 28th that it will acquire an additional 868,948 shares of SM Entertainment (SM) for 104.3 billion won.
With this acquisition, HYBE's stake in SM will be 12.6%. The stock acquisition date is the 7th of next month.
The stake was secured through the exercise of put option (stock purchase right) by SM founder and former producer Lee Soo-man.
HYBE acquired a 14.8% stake in the former producer at 422.8 billion won during the SM management dispute early last year, and also gave put options to the remaining shares. The put option exercise price is the same as 120,000 won at the time of stock transfer.
SM shares closed at 79,500 won on the day. The put option price is about 50% higher.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
