Psy, Big Bang to possibly be shareholders of YG Entertainment
SEOUL — Korean singer Psy and boy band Big Bang are among 18 YG Entertainment artistes who will be given the option to pre-emptively purchase new shares in their management company, reported Korean media.
South Korean singer Psy performs his hit Gangnam Style during a morning television appearance in central Sydney in this October 17, 2012 file photograph. Photo: Reuters
SEOUL — Korean singer Psy and boy band Big Bang are among 18 YG Entertainment artistes who will be given the option to pre-emptively purchase new shares in their management company, reported Korean media.
YG Entertainment announced today (April 8) that the company’s main shareholders, Chief Executive Producer Yang Hyun Suk and Chief Executive Officer Yang Min Suk, have decided to transfer their pre-emptive rights to purchase new shares in the company to 18 of its artistes.
This is reportedly the first time the major shareholders of a Korean entertainment company have done this.
If the artistes exercise their rights, they will be able to purchase a total of 81,400 new shares in the company.
Observers believe YG Entertainment could benefit from this, since the artistes who become shareholders now have a stake in its success, prompting them to work harder for the company. CHANNEL NEWSASIA
Stay in the know. Anytime. Anywhere.
Subscribe to get daily news updates, insights and must reads delivered straight to your inbox.
By clicking subscribe, I agree for my personal data to be used to send me TODAY newsletters, promotional offers and for research and analysis.
