이 기사는 2021년 07월 01일 08:11 thebell 에 표출된 기사입니다.

STIC Investments has made a return of over nine times invested capital from an exit from its two-and-a-half year investment in HYBE, home to pop group BTS.

The Seoul-based firm sold a 7.6% stake in HYBE through a block deal worth about 814 billion won ($721.3 million) on Tuesday, according to a regulatory filing. The sale price was set at 284,000 won per share, which represented an 8.97% discount to the stock’s closing price on Monday.

With the transaction – which excluded some 180,000 shares bought in a rights offering in June – STIC successfully sold almost all of its shares in the entertainment company. The exit reportedly generated a return of 9.3 times invested capital and a 136% internal rate of return.

STIC bought a minority stake in HYBE, formerly Big Hit Entertainment, from existing venture capital investors in a secondary deal worth 103.8 billion won in October 2018. The investment was made through its first special situations fund, which closed at 603.2 billion won in 2016.

The investment generated gains that exceeded invested capital in 2020 after STIC collected 120 billion won by selling some of its shares in HYBE’s initial public offering in October and via a block deal in December. STIC’s divestment from HYBE is estimated to have generated a total cash return of 941.6 billion won. (Reporting by Ar-rum Rho)