HYBE is selling its 9.38% stake in SM Entertainment to Tencent Music Entertainment, making Tencent Music the second-largest shareholder of SM. The shares, priced at 110,000 won each, will be sold in a block deal after market close on the 30th, totaling approximately 243.3 billion won. HYBE stated the sale was to focus on core business interests, while SM plans to strengthen collaboration with Tencent Music.
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Auto-posted at: 2025-05-27 21:04:38