BTS Reportedly Seeking to Sell HYBE Shares; Agency Responds

BTS Reportedly Seeking to Sell HYBE Shares; Agency Responds

HYBE has addressed rumors circulating about BTS.

On November 16, a media outlet reported that BTS had decided to sell all of their shares within HYBE. According to the same article, Bang Si Hyuk had decided to sell 6.65% of his shares in the company.

In response, HYBE released a statement to clarify that BTS had not sold their shares.

The key to understanding this situation is that the special contract between BTS members and Bang Si Hyuk ended when the boys renewed their contract. In this contract, a clause stipulated that BTS should own shares in HYBE.

Now that the contract is over, BTS is not obligated to retain their shares in the company. According to reports in the business and finance world, BTS members all put their shares on the market last September. This means that their shares are available for external parties to purchase, but they have not been sold yet.

HYBE stated, "BTS members have not sold their shares. It simply means that the special contractual relationship between the seven members and Bang Si Hyuk is no longer applicable as shareholders. This has nothing to do with the sale of shares."

Source: wikitree

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