SNSD and SM Artists to Become Shareholders in SMEnt
On March 28th, SM Entertainment announced that they will be issuing $881,000 worth of new shares. All these new shares will be going to SM artists!
Through DART Financial Supervisory Service, the shares will be provided to Kangta, BoA, TVXQ, Super Junior, SNSD, SHINee, f(x), Go Ara, and more. SMEnt said they would be issuing 22,120 shares at approximately 44, 550 won each (about $39-$40 USD).
Kangta, BoA, most of Super Junior and SNSD members will receive 680 shares each (about $27,200 USD). Wow, isn’t that a nice pay day ;P. It is really nice to see that SM values their artists to give them a piece of the company. I feel these artists definitely deserve this with all the hard work they do day in and day out.
SM stated, “This capital increase represents a strengthening partnership between the company and its artists, and we hope that as shareholders, our artists will share and take part in the vision and growth of the company” followed by “We are expecting a global growth of the company through this renewed partnership with the artists.”