HYBE sells off 19.43% of its shares in SM Entertainment to Kakao at ~$437 million USD
Initially, HYBE purchased 14.8% of SM Entertainment's shares from former producerat 120,000 KRW per share. Then, after reaching a business agreement on March 12, Kakao proceeded with a tender offer at 150,000 KRW.
It's believe by selling off its shares in SM Entertainment, HYBE has successfully procured a profit of approximately 112.7 billion KRW .
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