FNC Entertainment, a Korean management company is to be invested U.S$ 290 million from a subsidiary of Chinese conglomerate Suning Universal Media. The management company which houses comedian Yoo Jae-suk along with CNBLUE, AOA and other top Korean celebrities, said Monday.
According to FNC Entertainment’s announcement, the company will issue approximately 1.7 million shares to Suning Universal Media to raise $290 million in capital.
Suning Universal Media is a company engaged in e-commerce, electronics distribution, real estate development and entertainment business. According to FNC’s announcement, the management company seeks to coordinate with Suning in order to jump-start its business in China.
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