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[Alpha Biz=(Chicago) Reporter Paul Lee] The National Pension Service reduced its stake in entertainment stocks such as JYP Entertainment and YG Entertainment in the second quarter of this year and purchased additional small and medium-sized cosmetics, the report showed.
According to the Financial Supervisory Service's electronic disclosure system on the 5th, the National Pension Service sold 382,094 shares held by JYP, reducing its stake from 5.07% to 4%. The share reduction date was April 13, and the company sold about 30.8 billion won at the closing price (80,600 won) at the time. In addition, the company sold 426,803 YG shares on the 29th of last month, reducing its holdings from 9.41% to 7.12%. The sale amount is about 33.5 billion won.
The National Pension Service will acquire more than 5% of a new stake in a particular company or disclose its holding status by the 10th of the following month of the quarter when reporting obligations occur if a change of more than 1% or a change in the purpose of holding occurs. As JYP and YG posted high stock price growth rates of 100% and 70% this year, respectively, it is interpreted that they sold their holdings to realize profits. However, HYBE shares bought an additional 436,714 shares on May 30 and increased their stake from 6.62% to 7.53%.
In addition, the National Pension Service has reduced its stake in cosmetics stocks of large brands. AmorePacific announced that its stake in the National Pension Service decreased from 7.39% to 6.35% as of the 14th of last month and LG Household & Health Care from 8.03% to 6.99% as of the 30th of last month.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
