SEOUL: Shares in YG Entertainment Inc rose as much as 12 percent on Thursday, after the South Korean company that manages rapper Psy said the private equity arm of French luxury goods giant LVMH will invest up to USD$80 million.
L. Capital Asia will invest 61 billion won (USD$60 million) in new preferred shares of YG and is in talks to buy another USD$20 million in shares from YG’s largest shareholder, according to a YG filing on Wednesday. -Reuters