JYP Denies Rumors of Acquiring Stake in Japanese Group…"We Have Not Received Any Proposal"

[Dispatch=Reporter Lee Myung-ju] JYP Entertainment has drawn a line against rumors of a Japanese investment group acquiring its stake.

On the 26th, JYP Entertainment dismissed the reports, stating that it "has not received any proposal" regarding The NexRock Group and SVCV pursuing an acquisition of the company's stake.

The investment group released a statement on the day, saying "We will proceed with a public acquisition of JYP in November" and "Our acquisition target is 25~50% of JYP-issued shares."

This means acquiring JYP's stake at a level that would secure management rights. The group also announced plans to deliver a letter of intent to acquire to JYP confidentially before the public acquisition.

While the two sides' positions diverge, JYP's stock price surged in after-market trading. It rose 14.38% compared to the regular session close. The stock reached 42,150 won.