Yang Hyun-suk buys 20 billion won of YG shares “Following Park Jin-young purchasing 5 billion won of JYP shares”
On Jan 23rd, YG announced that executive producer Yang Hyun-suk had bought 461,940 shares of the company’s stock (average price 43,305 won) starting on Jan 18th. The total amount of the purchase is 20 billion won, increasing Yang Hyun-suk’s stake from 16.8% to 19.3%.
Through this stock repurchase, executive producer Yang Hyun-suk expressed his firm intention to enhance shareholder value while demonstrating confidence in the company’s business and growth this year.
YG signed contracts with BLACKPINK for group activities in December last year, and they officially confirmed the release of the second new song by the highly anticipated girl group BABYMONSTER on Feb 1st and the release of their first mini-album on April 1st. Boy group TREASURE, after completing their second Japan tour scheduled until early March, will begin preparations for a new song and various projects for global activities until the end of this year.
Meanwhile, Yang Hyun-suk’s stock repurchase follows JYP Entertainment’s COO Park Jin-young, who recently purchased around 5 billion won worth of treasury stock. JYP Entertainment announced on Jan 18th that COO Park Jin-young had bought shares worth about 5 billion won. Following this news, JYP Entertainment’s stock, which had been on a recent decline, surprisingly showed strength.
Source: Daum
