[Market Focus] HYBE Sells Stake... YG PLUS Drops Over 6%
YG PLUS shares are trading lower following news that HYBE will sell its entire stake in YG PLUS.
As of 9:38 a.m. on September 24, YG PLUS was trading at 8,010 won, down 530 won (6.21%) from the previous trading day.
![[Market Focus] HYBE Sells Stake... YG PLUS Drops Over 6%](http://www.asiae.co.kr/news/img_view.htm?img=2024102409305871420_1729729858.jpg)
The previous day, after the market closed, HYBE announced that it would dispose of 4,864,565 shares of YG PLUS (a 7.67% stake) through a block deal. The sale price is 7,857 won per share, with the total planned sale amounting to 38.2 billion won.
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However, HYBE will maintain its position as a major shareholder of YG PLUS (a 10.23% stake) and continue its partnership through its subsidiary, Weverse Company.
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