YG Entertainment said Tuesday that Yang Hyun-suk, its CEO and largest shareholder, and Yang Min-suk, its second-largest stockholder, exerted their preemptive right to transfer some of their stocks to the celebrities on YG’s management list.
The combined number of shares transferred totals 81,400, the company said without elaborating.
In its board of directors meeting on Feb. 14, YG Entertainment decided to raise capital amounting to 51.2 billion won by issuing new shares.
Sales of YG Entertainment reached 105.7 billion won in 2013, while its operating profit and net earnings totaled 18.5 billion won and 13.9 billion won, respectively.
reporter
Park Sae-jin
swatchsjp@ajunews.com