Two Japan-affiliated investment groups were reportedly considering acquiring up to 50% of JYP Entertainment's shares, while JYP denied having received a proposal. The share price reacted sharply in the afternoon session after the transaction.
After two Japan-affiliated investment groups indicated their intention to acquire up to 50% of JYP Entertainment's shares, JYP said it had not received an acquisition proposal. The regular-session close rose from KRW 36,000 to KRW 42,150, while the shares rose as high as KRW 44,000 in after-hours trading.
The two groups are considering a tender-offer price representing a 30% premium to the reference share price and gave 20 November as the target start date for the tender offer. They plan to submit a non-public acquisition proposal and hold discussions for approximately 30 days.