HYBE will sell all of the equity it holds in YG PLUS. It will maintain its status as a key shareholder in YG PLUS through its subsidiary Weverse Company and continue the collaboration.
According to the Financial Supervisory Service's electronic disclosure system on the 23rd, HYBE will dispose of 4,864,565 shares of YG PLUS (equity ratio 7.67%) via an after-hours block deal following the market close. The disposal price is 7,857 won per share, putting the total planned sale amount at 38.2 billion won.
HYBE, together with its subsidiary Weverse Company, holds 17.9% equity in YG PLUS. With this sale, only Weverse Company's 10.23% holding will remain. It will be the second-largest shareholder after YG Entertainment (equity ratio 30.22%).
HYBE formed an "alliance" with YG Entertainment in 2021 by securing equity in YG PLUS. Albums by affiliated artists such as BTS and SEVENTEEN have been distributed through YG PLUS, YG Entertainment's record distribution subsidiary. YG Entertainment has collaborated by having artists including BLACKPINK operate on Weverse, HYBE's fandom platform.
Although HYBE has moved to sell its equity, the collaboration with YG PLUS is expected to continue. An industry official said, "Since HYBE's subsidiary Weverse Company holds equity in YG PLUS, the collaboration will continue."