It has been reported on March 24 KST that HYBE Labels has formally offered off 19.43% of SM Entertainment‘s shares to Kakao at 564 billion KRW (~ $437 million USD), collaborating in Kakao’s public takeover bid.

Initially, HYBE bought 14.8% of SM Entertainment’s shares from former producer Lee Soo Man at 120,000 KRW per share. Then, after reaching a enterprise settlement on March 12, Kakao proceeded with a young supply at 150,000 KRW. 

It’s imagine by promoting off its shares in SM Entertainment, HYBE has efficiently procured a revenue of roughly 112.7 billion KRW (~ $87.4 million USD).