SM Entertainment, one of the biggest agencies in Korea and a listed company on the KOSDAQ, increases its capital by issuing new stocks to artists who belong to the company. Thereby, SM’s singers, including SNSD, Super Junior, and others become stockholders of the agency.
According to the e-public disclosure made by the Korean Financial Supervisory Service on March 26, SM Entertainment is to increase its capital of a billion won by issuing new stocks to artists who belong to the company, including Kang Ta, BoA, TVXQ, Super Junior, SNSD, SHINee, f(X), and others.
A total of 22,120 stocks are to be issued with a stock price of 44,550 won per stock. SM is to increase its capital by 978,810,000 won.
Most singers, including Kang Ta, BoA, and members of SNSD and Super Junior, are assigned 680 stocks each while members of SHINee and f(X) are assigned 340 stocks each.
SM announced, “We decided to issue new stocks to artist in order to strengthen the partnership between the company and the artists. With this stock issuing, the artists are encouraged to share SM’s visions and actively get involved with it.”
Source: Starnews
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