Wavve, 90 Billion Won Capital Increase... SK Square Stake Rises from 36% to 39%

Photo by Contents Wave

[Asia Economy Reporter Oh Su-yeon] SK Square has strengthened its control by increasing its stake in Content Wave, the operator of the online video service (OTT) Wave, from 36.4% to 39.3%.

Content Wave announced on the 22nd that SK Square's stake had increased from 36.4% to 39.3%.

SK Square increased its stake by 1.1 percentage points to 37.5%, and combined with SK Square America’s 1.8% stake.

The stakes of the three terrestrial broadcasters each decreased by 1%, totaling 60.6%.

Additionally, Content Wave announced on the same day that it had decided on a paid-in capital increase to raise operating funds amounting to 90,132,627,032 KRW. The new shares will be 419,909 common shares issued at a price of 214,648 KRW per share.

In this paid-in capital increase, SK Square America subscribed to 100,778 shares, and the three terrestrial broadcasters each subscribed to 106,377 shares.

This was carried out as Content Wave exchanged Wave America shares and Content Wave shares in the process of securing a stake in the North American K-content platform 'KOCOWA'.

Content Wave announced on the same day that it had acquired KOCOWA and will expand its global business starting with services in the North American region.

This content was produced with the assistance of AI translation services.