Kakao Buys 44% of HYBE’s SM Entertainment Shares, Increasing Stake to 40%

Kakao Buys 44% of HYBE’s SM Entertainment Shares, Increasing Stake to 40%

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Kakao Corp. and its subsidiary, Kakao Entertainment, increased their share of K-pop company SM Entertainment to 39.9% from 4.9% after purchasing 1.66 million shares from HYBE. That left HYBE with 54% of its shares in SM Entertainment, according to a Tuesday (March 28) regulatory filing. Related…

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