Members of K-pop boy band BTS pose for photographs during a news conference promoting their new album BE in Seoul, South Korea on Nov 20, 2020.SEOUL — South Korean music label HYBE, manager of boy band BTS, said on Friday it aimed to sell its entire 15.8 per cent stake in K-pop pioneer SM Entertainment for 564 billion won by accepting a tender offer from bidder Kakao.
For weeks, HYBE battled against Kakao to acquire SM before dropping its bid earlier this month. But it remained uncertain until Friday whether HYBE, currently SM's biggest shareholder, would dispose of its stake. The planned stake sale would allow HYBE to pocket a gain of around US$87 million , a 25 per cent quick return from an investment made just a month ago mainly by purchasing a stake from SM founder Lee Soo-man, 70, who is considered the "godfather" of the K-pop industry.HYBE chairman Bang Si-hyuk said last week that he was "personally satisfied" with a new partnership with Kakao on fan platform businesses despite losing the battle over SM.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
North Korea fires multiple cruise missiles off its east coast, South Korea saysSEOUL — North Korea fired multiple cruise missiles off its east coast on Wednesday (March 22), South Korea's military said, the latest in a series of tests of its weapons as its rivals, South Korea and the US, conducted joint military exercises. North Korea fired the missiles at around 10.15 am from its South Hamgyong province, South Korea's Joint Chiefs...
Source: asiaonecom - 🏆 10. / 59 Read more »
Escaped zebra captured after wandering Seoul streets for 3 hoursAn zebra that had escaped from a zoo in Seoul was caught by officials on Thursday (Mar 23). The animal had wandered the streets of a residential district for... Lucky! The escapee wasn't a tiger or lion (and hungry & angry) :-).
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
How to get discounts, spot fakes and buy the hottest K-beauty products, according to a beauty brand founder who’s frequently in SeoulKIV for your next trip to Seoul.
Source: TODAYonline - 🏆 1. / 99 Read more »
Stop, there's a zebra crossing! Escaped beast returned to zoo after roaming streets of SeoulSEOUL – A zebra escaped from a zoo in the South Korean capital Seoul on Thursday and wandered the streets of a residential district for three hours before being caught and taken home. Bemused pedestrians looked on as the beast trotted past cars, wandered down a street and poked its nose into garbage bins, footage showed. The male zebra, named...
Source: asiaonecom - 🏆 10. / 59 Read more »
China's military says US warship illegally entered waters in South China SeaThe military said, the guided missile destroyer Milius illegally intruded into China’s territorial waters. Read more at straitstimes.com. straits_times What a joke.. illegal occupiers crying illegal intrusion. Most disgusting country.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Singapore-South Korean film ‘Ajoomma’ to be first Singaporean film on Prime VideoThe film secured four nominations at the prestigious Golden Horse Awards.
Source: YahooSG - 🏆 3. / 71 Read more »