Recently, SM Entertainment shares appeared on the M&A market. It was Lee Soo ManŌĆÖs stake which he previously had approximately 18.73 percent in SM Entertainment. The only stakeholder with a share greater than 5% of SM Entertainment is believed to be Korea Investment Management Co. (5.04%). SM has not officially reported the sales yet. However, when the news broke out that and Kakao Entertainment, CJ ENM, and HYBE are in the race to acquire Lee Soo ManŌĆÖs shares in SM Entertainment, the stock prices of SM Entertainment and its affiliates sky-rocketed altogether. This is not the first time that rumors of Lee Soo Man selling his shares have surfaced online. However, rumors of the sale seem to be coming true as specific names of the companies are mentioned. Fans who have been loyal to the companyŌĆÖs music were shocked to hear the news. Some fans are suggesting that he should take responsibility for his company using the hashtag, ŌĆ£#ImSorryComeBackLeeSooMan (#ļ»ĖņĢłĒĢ┤ņÜŌĆØņØ┤ņłśļ¦īļÅīņĢäņÖĆņÜŌĆØņØ┤ņłśļ¦ī).ŌĆØ ┬Ā Source (1) Translator Jung Munjeong: IŌĆÖll provide you with the latest articles on K-Drama, K-Pop, and K-Movie as quickly as possible.
