Sohu Korea Entertainment News South Korea’s Financial Supervisory Service announced today that it will start investigating the abnormal trading volume of SM Entertainment’s stock on the 16th of last month.
HYBE recently reported to the Financial Supervisory Service that the trading volume of SM Entertainment stock on a single exchange was abnormally high on the 16th of last month. It is suspected that someone maliciously manipulated the stock price to hinder HYBE’s public acquisition, and requested the Financial Supervisory Service to thoroughly investigate the matter. Today, the Korean Financial Supervisory Service responded that buying a large number of stocks during the public offer period to maintain the stock price at a price higher than the public offer price is an illegal act of manipulating stock prices. The Financial Supervisory Service will investigate the report of HYBE, and if it finds illegal facts Relevant responsible persons and companies will be severely punished. The Financial Supervisory Service also stated that the company’s management rights dispute should be conducted through fair and just competition, and there should be no illegal acts.
HYBE Company made a public acquisition of SM Entertainment’s stock from the 18th to the 28th of last month, but following the massive transaction on the 16th, SM Entertainment’s stock price has been higher than HYBE Company’s purchase price of 120,000 won, which led to HYBE Company’s public offering. The acquisition failed. SM’s share price was 127,600 won per share at the close of trading yesterday, which is still 6.33% higher than HYBE’s purchase price.Guo Mingdong/text copyright Mydaily prohibits reprinting Return to Sohu to see more
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