by Lee Jungyun
Published 28 Feb.2024 21:21(KST)
HYBE announced on the 28th that it will acquire 868,948 shares of SM Entertainment (SM) stock for 104.3 billion KRW.
With this acquisition, HYBE's stake in SM will become 12.6%. The scheduled date for the stock acquisition is the 7th of next month.
HYBE stated that the purpose of this stock acquisition is "the acquisition of shares following the exercise of Lee Soo-man's put option (stock purchase request right)."
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