SM Friends Co., Ltd. announced that it will issue 1,200,000 common shares at a price of KRW 5,000 per share for gross proceeds for KRW 6,000,000,000 on March 14, 2025. The transaction include the participation from returning investor SM Entertainment Co., Ltd., retain 100% stake in he company. The transaction has been approved by the board of directors of the company.
The transaction is expected to close on March 17, 2025. The company will issue the shares through Shareholder allocation paid-in capital increase method.