HYBE Clarification BTS Members Sell All Shares, Members Not…

The commotion in the online world caught the attention of netizens when members of BTS were reported to have sold their entire ownership of HYBE shares.

However, is it a fact that BTS members actually sold all their HYBE shares?

It all started when one media outlet reported that BTS members had decided to sell their entire ownership of HYBE shares.

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The report stated that, in addition to BTS members selling all HYBE shares, Bang Si Hyuk was also reported to have sold 6.65% of his shares.

In response to the news of all BTS members selling HYBE shares, along with Bang Si Hyuk’s reported percentage, the agency released an official statement.

Earlier on Tuesday, November 14, 2023, the Situation of Massive Stockholding reported that the special contract between the 7 BTS members and Bang Si Hyuk had ended.

Based on the mentioned report, the 7 BTS members marketed their HYBE Labels shares last September.

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Because of this, Allkpop stated that BTS members did not sell all their HYBE shares.

This information was further clarified by HYBE on Friday, November 17, 2023: “The members did not sell their shares.”

“It simply means that the special relationship no longer exists because the agreement between Bang Si Hyuk and BTS members as shareholders has ended,” they continued.

HYBE also stated that this had no connection whatsoever to the sale or change of shares.

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Looking back, previously BTS members were bound by an individual shareholder contract with Bang Si Hyuk.

This meant that BTS members had delegated their voting rights to Chairman Bang Si Hyuk.

However, after the update to BTS’s contract with the agency some time ago, it was reported that this special shareholder agreement had ended.

This is why BTS members can now use their voting rights as HYBE shareholders.

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It was also reported in September 2020, when HYBE was preparing for an initial public offering (IPO), Bang Si Hyuk generously distributed 68,385 shares of the company to each BTS member.

Author: admin