STARPLUS LEGEND Surges Over 10% Intraday After Becoming Strategic Shareholder of Galaxy

Deep News

Nov 03

STARPLUS LEGEND (06683) rose more than 10% during intraday trading. As of press time, the stock was up 8.47% to HK$9.48, with a trading volume of HK$179 million.

On November 3, STARPLUS LEGEND announced that it had subscribed to up to 7% of the issued share capital of Galaxy, a renowned South Korean artist management company, through an industrial fund. The initial closing of the industrial fund has been completed, with the company investing US$8 million to acquire a 16% stake in the fund. The remaining interests are held by two independent third parties.

Becoming a strategic shareholder of Galaxy is expected to bring multifaceted synergies to STARPLUS LEGEND. The two parties are currently engaged in in-depth discussions regarding the details of strategic cooperation, which may include collaborations such as exhibitions, concerts, and IP and derivative development with Galaxy's artists.

Galaxy represents globally influential artists including G-Dragon, Kim Jong-kook, and Song Kang-ho. This strategic investment in Galaxy marks a key move in STARPLUS LEGEND's global IP expansion strategy. The deal is expected to deepen STARPLUS LEGEND's ties with top international celebrity IPs and provide strong momentum for its strategic vision of building a "global IP development and operation platform."

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As of press time, the stock was up 8.47% to HK$9.48, with a trading volume of HK$179 million.</p>\n<p>On November 3, STARPLUS LEGEND announced that it had subscribed to up to 7% of the issued share capital of Galaxy, a renowned South Korean artist management company, through an industrial fund. The initial closing of the industrial fund has been completed, with the company investing US$8 million to acquire a 16% stake in the fund. The remaining interests are held by two independent third parties.</p>\n<p>Becoming a strategic shareholder of Galaxy is expected to bring multifaceted synergies to STARPLUS LEGEND. The two parties are currently engaged in in-depth discussions regarding the details of strategic cooperation, which may include collaborations such as exhibitions, concerts, and IP and derivative development with Galaxy's artists.</p>\n<p>Galaxy represents globally influential artists including G-Dragon, Kim Jong-kook, and Song Kang-ho. 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