Rain's become the largest stockholder of his agency J.Tune entertainment

Rain has become the largest stockholder of his agency J.Tune entertainment.

This is the first time he's turned J.Tune entertainment's owner since his acquisition was complete.

Rain ever announced his participation in the management of J.Tune entertainment by October 2007, acquiring his stocks with 11.55% (881,446 stocks, 500 KRW at par) in shareholder's equity in due form of the issue of new shares to be purchased by third parties.

J.Tune entertainment announced after the stock closed on the 16th, "J.Tune entertainment's largest stockholder has transferred from 'Asian Company-1 Union for the Restructuring' to Rain due to the dissolution of the company.

An official from J.Tune entertainment expressed, "J.Tune entertainment's largest stockholder has transferred due to the dissolution of 'Asian Company-1 Union for the Restructuring'" and " the stocks the Asian Company is holding, will be distributed to the members of the union."

The 'Asian Company-1 Union for the Restructuring' side said, "The equity we are holding will be distributed to the members, and the holding and the selling will depend on their judgement."

Meanwhile, in reference to what Rain's become the largest stockholder of J.Tune entertainment and what he bought the stocks of CT&T company producing electric vehicles, there is a belief that CT&T would make its stock market debut on the COSDAQ (Korean Securities Dealers´ Automated Quotation), but J.Tune entertainment said, "For our part, we know nothing about it."

Source: fnnews
Brief translation credit: rain bird@rain-eu.com