The stock prices of SM C&C and KeyEast, listed on the KOSDAQ, are strong. This comes as reports indicate that efforts to sell management rights are gaining momentum.
According to the Korea Exchange on the 10th, as of 2:58 p.m. that day, the stock price of SM C&C has risen 17.09% (229 won) compared to the previous day, reaching 1,569 won. KeyEast's stock price is also strong, showing an increase of 8.05% to 4,565 won from the previous day.
The push for the sale of management rights for SM C&C, a subsidiary of SM Entertainment, and KeyEast has led to rising stock prices. SM Entertainment has selected Deloitte Anjin as the lead manager and is reportedly conducting due diligence with potential buyers.
According to the investment banking industry, it is reported that SM C&C and KeyEast each have two strategic investors (SIs) interested.
Rumors of the sale of the two companies have surfaced since early last year. Jang Cheol-hyuk, the CEO of SM Entertainment, stated in February of last year while explaining the SM 3.0 strategy that he would raise 280 billion won by selling non-core assets.