Kangta saw 91% return from sale of SM Entertainment shares

2022.12.12 14:55:01 | 2023.03.20 14:12:01

Kangta [Photo provided by SM Entertainment]이미지 확대

Kangta [Photo provided by SM Entertainment]

Kangta, a member of the former boy band H.O.T., earned a return of 91 percent from selling SM Entertainment stocks.

The signer sold 2,200 shares worth 179.56 million won ($136,855) for two days on Dec. 5 and 6, according to data published by the Financial Supervisory Service (FSS) on Sunday. The shares were sold at a price range between 81,500 won and 82,000 won a share. He acquired 6,000 shares of SM by exercising his stock options in July. Considering that he acquired the shares at 42,640 won per share, the return from the sale is calculated at 91.42 percent or 85.76 million won. Previously in September, he made 81.33 million won by selling 2,300 shares. Through the sale of his holdings in SM, he earned a total of 167.09 million won this year. He still owns 1,500 SM shares.

BoA, who is also a non-registered director like Kangta, made a total profit of 400 million won by selling SM stocks she acquired through her stock options. Last year, she disposed of 4,800 shares, making a return of 105.56 million won. She still holds 1,200 shares of the entertainment giant.

SM Entertainment, a South Korean multinational entertainment agency, saw its shares peak at 90,000 won on April 1, helped by expectations of governance structure improvement. However, its shares fell from the peak, trading at around 80,000 won. Brokerage firms are forecasting higher earnings for the entertainment firm as eased Covid measures are helping to restart business opportunities and revive tourism.

SM Entertainment shares added 0.5 percent to 79,400 won as of 2:47 p.m. on Monday.

By Shin Young-eun and Jenny Lee

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