One news source reported on November 16 that the members of BTS had sold all of their shares in HYBE Labels. Additionally, 6.65% of Bang Si Hyuk’s shares were sold, as mentioned in the report. The BTS members did not sell their shares according to a statement issued by HYBE.
The special contract between the seven members and chairman Bang Si Hyuk has ended, as stated in the report on the Situation of Massive Stockholding published on November 14. According to the article, in September of this year, all seven members of BTS put their shares of HYBE Labels stock on the market, however they did not sell all of their shares.
“BTS members did not sell their shares,” HYBE said on November 17. With the termination of the agreement between Chairman Bang Si Hyuk and the BTS members as shareholders, the unique status of the relationship between them is no longer relevant. This has nothing to do with the purchase or sale of stock.
Check out the below tweet:
HYBE has denied rumors of #BTS selling shares. It has been confirmed by HYBE to Korean media that the members will not be selling their shares. Additionally, HYBE has provided more information about the special contract status between #BTS and president Bang Shihyuk. + pic.twitter.com/a50GWgooPk
— BOY GROUPS CHARTS (@kbgcharts) November 17, 2023
Before this, each BTS member had a separate contract with Bang Si Hyuk, under which he or she agreed to give up voting control to the Chairman. However, with the recent renewal of contracts between the members and the agency, it has been claimed that these specific shareholder agreements have concluded. As a result, all seven members of BTS are now individual HYBE stockholders with full voting rights.
You can also read about other recent BTS members news we have covered:
- BTS Jungkook Spotify K-Pop Interview Highlights: JK Wants To Travel Along With Members
- Taehyung Joins Jungkook On Suchwita New Episode: Taekook Fans Went Crazy From Sweet Moments!!
Each member of BTS was given 68,385 shares of Big Hit Entertainment (now HYBE) stock in September 2020, when the company was preparing for its initial public offering (IPO), according to reports.
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