[Special Stock] SM Declines Over 3% Amid HYBE Block Deal
SM is showing weakness in the early trading session following the news of Hive's block deal of its stake.
As of 9:22 AM on the 28th, SM is trading at 92,400 KRW, down 3,400 KRW (3.55%) from the previous day.
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Before the market opened today, Hive announced that it would dispose of 755,522 shares of its SM holdings through an off-hours block deal at 90,531 KRW per share to improve the efficiency of investment asset management. The disposal amount is 68.39815 billion KRW. After the block deal, Hive's stake in SM will decrease to 9.38%.
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