WooriSpac2 have completed merger with Cube Entertainment and will be actively involved in the entertainment’s operations. With Beast, 4minute, BTOB and other artists recording great results overseas, the share price of (WooriSpac2) has been soaring.
As at 2nd April, 10.44am, WooriSpac rose to 3655 Won, by 7.8% as compared to yesterday’s closing rate.
WooriSpac2 merged with Cube Entertainment on 30th March and as at 1st April, the largest shareholders were changed to 3 entities/individuals, including iHQ. Cube Entertainment’s CEO Park ChungMin, too, has taken over as the director (for Woorispac2). iHQ holds 36.0%, Cube Entertainment’s President Hong SeungSong holds 15.9% while iHQ’s chairman Jung HoonTak holds 3.0%.
The recent rise in WooriSpac’s share price was due to the company’s artists having strong results in overseas promotions. In particular, BTOB’s Japanese activities have significantly raise the revenue by 9%, as compared to the third quarter of 2013.
BTOB has recently released their first single album in Japan, titled ‘Future’. Up till 1st April, they have sold 100,000 copies and the single was charted #2 on Oricon weekly chart. These were the results although BTOB started their Japanese promotions merely 5 months ago,
In addition, BTOB will be holding solo concerts on 29~30th April in Tokyo Dom City Hall, and in Osaka on 3rd~4th May. It is likely that Cube Entertainment will reflect the performances in the second half of the year with this major source of income.
Researcher Lee HyunHee from Hyundai Securities expressed, “With their major artists promoting actively overseas in year 2015, we expect a strong increase in exports (of contents)”
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Source: Money Today