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HYBE to sell all SM Entertainment shares to Tencent Music for ₩243 billion (approx. $178 million)

AKP STAFF
Posted by Alec06 12 hours ago 12,912

HYBE has announced the sale of all its shares in SM Entertainment.

According to a filing with the Financial Supervisory Service on the 27th, HYBE will sell its entire stake in SM Entertainment—approximately 2.21 million shares—for about 243 billion won to Tencent Music. The transaction will take place on May 30 through a block deal after market close, at a price of 110,000 won per share.

With this move, HYBE marks the end of its investment in SM Entertainment, which began in 2023.


SEE ALSO: Actress Lim Sung Eon's newlywed husband denies fraud allegations

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