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Top K-pop stocks fall after Hybe sells $50 million stake in SM Entertainment

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Stocks of Hybe — which manages K-pop sensation BTS — stock slid as much as 2.4%, while SM Entertainment saw its shares plunge as much as 5.74% on Tuesday.

South Korean media outlet Chosun Ilbo reported that Hybe — which manages K-pop sensation BTS — intends to make the transaction a block deal of 750,000 shares.

Kospi-listed Hybe's stock slid as much as 2.4%, while SM Entertainment — which is listed on the Kosdaq —saw its shares plunge as much as 5.74%., Hybe — the agency that manages K-pop sensation BTS — said that about 755,000 shares were sold for 90,531 South Korean won per share in a block deal, a 5.5% discount from SM's last closing price of 95,800 won

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Top K-pop stocks fall after reports that Hybe may sell $50 million stake in SM EntertainmentStocks of Hybe — which manages K-pop sensation BTS — stock slid as much as 2.4%, while SM Entertainment saw its shares plunge as much as 5.74% on Tuesday.
Source: CNBC - 🏆 12. / 72 Read more »

Top K-pop stocks fall after reports that Hybe may sell $50 million stake in SM EntertainmentStocks of Hybe — which manages K-pop sensation BTS — stock slid as much as 2.4%, while SM Entertainment saw its shares plunge as much as 5.74% on Tuesday.
Source: nbcsandiego - 🏆 524. / 51 Read more »