HYBE To Acquire Additional 104.3 Billion Won Worth Of SM Entertainment Shares…

HYBE to acquire additional shares of SM Entertainment, Lee Soo-man exercises put option.

Hive announced on the 28th that it would acquire an additional 868,948 shares of SM stock for 104.3 billion won.

This is due to the exercise of put options (stock purchase rights) by former SM general producer Lee Soo-man. As a result, Hive’s stake in SM increased to 12.6%.

When a dispute over SM management rights broke out early last year, Hive acquired a 14.8% stake in SM founder Lee Soo-man, a former producer, for 422.8 billion won. In addition, a put option was granted for the remaining shares held by former general producer Lee Soo-man. The put option exercise price is 120,000 won. The expected date for stock acquisition is March 7th.