August 13, 2014 / 12:40 AM / 3 years ago

YG Entertainment shares soar on reports of 100 bln won investment talks

SEOUL, Aug 13 (Reuters) - Shares in YG Entertainment Corp , the South Korean management agency of rapper Psy, rose as much as 9.6 percent in early Wednesday after talks of a possible 100 billion won ($97.35 million) investment from a fund arm of LVMH.

L Capital Asia, the investment fund arm of LVMH Group known for its luxury brand Louis Vuitton, is in talks to invest around 100 billion won in YG, various South Korean media including online news service Edaily said, citing unnamed source or sources in the related industry.

Korea Exchange requested YG Entertainment to submit a filing on the issue by 6 P.M. local time Wednesday.

1 US dollar = 1,027.2000 Korean won Reporting by Joyce Lee; Editing by Michael Perry

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