Tencent Music becomes the second-largest shareholder in SME, after Kakao.
The 20-company Billboard Global Music Index gained 0.2%, its seventh consecutive weekly gain.
Tours by TVXQ and Minho also helped push concert revenue up 58% in the first quarter.
Korean companies fared well even as the 20-company Billboard Global Music Index fell 2.9% due mainly to declines by Spotify, Warner Music Group and CTS Eventim.
To help boost shareholder returns, the K-pop company's board of directors agreed to retire the remaining 2% of treasury shares.
The 20-company Billboard Global Music Index jumped 4.7% to 2,226.11 as 16 stocks posted gains compared to just four losses.
The deal encompasses distribution and label services for the group, which was the subject of a BBC One miniseries earlier this year.
The Billboard Global Music Index rose 4.1% to a record 1,873.87, bringing its year-to-date gain to 22.2%.
The K-pop giant claims that Chen, Baekhyun and Xiumin have failed to pay a 10% intellectual property royalty fee — one the trio alleges they aren't obligated to pay.
With its “emotional pop,” the new SM Entertainment act is embracing authenticity and approachability — and winning a devoted, expanding fanbase.
