Sina Entertainment News On March 27, it was reported that South Korea’s Kakao became the largest shareholder of SM Entertainment, acquiring a total of 39.91% of the shares.
According to the K-POP industry and financial investment industry on the 27th, Kakao’s public acquisition of SM shares exceeded the target amount of 35%.
Kakao and its subsidiary Kakao Ent purchased 8,333,641 SM shares at a price of 150,000 won per share from the 7th to the 26th. It is reported that the purchase competition rate far exceeds 2 to 1. The Financial Supervisory Service will announce the results of Kakao’s public acquisition of SM shares on the 28th.
Therefore, Kakao will surpass the existing largest shareholder HYBE to become the largest shareholder of SM. Through this public acquisition, Kakao and Kakao Ent hold 20.78% and 19.13% of SM’s shares respectively, for a total of 39.91%.
(Editor in charge: Meatball)