Hybe plans $ 343 million CB issue next month for investment ammunition
Hybe Co. is set to issue 400 billion won ($ 342.8 million) of convertible bonds as early as next month to bolster ammunition for future investments, according to sources in the investment banking industry.
Hybe, the label behind K-pop wonder BTS, tasked Mirae Asset Securities with guaranteeing the CBW 400 billion issue, sources added.
Mirae Asset Securities said it is currently negotiating detailed terms with potential investors.
After raising 962.5 billion won in its successful IPO in October last year, Hybe again raised 445 billion won in the capital increase in May for its $ 950 million buyout of the international label Ithaca Holdings.
Industry watchers speculate that Hybe is also considering a stock exchange deal with Dunamu Inc., operator of South Korea’s leading crypto exchange, Upbit, to produce and distribute token-linked BTS digital products. non-fungible (NFT).
However, Dunamu dismissed such speculation as being without merit.
Hybe said in a regulatory brief on Tuesday that he was exploring various measures to boost his competitiveness, but no specific decision has yet been made. He said he would announce the details when a final decision is made or at the latest in a month.
Hybe shares are trading up 0.88% to 345,000 won in Wednesday morning trading.
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