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On November 17, the Korean media outlet Yonhap News reported that BTS members had decided to sell all their HYBE Labels stocks. This information was obtained from DART (Data Analysis, Retrieval, and Transfer System), which publishes information on stock exchanges in South Korea. Based on the DART report, the Bangtan members put their stocks up for sale in September this year.
For those unversed, Stocks, also known as equity in financial jargon, are a form of security that represents an individual or entity's fractional ownership in a company. In simpler words, when an individual buys a stock, they assert their ownership of a small part of the company, known as a share.
BTS members have sold their current stocks as the remaining members—RM, Jimin, V, and Jungkook—will enlist in the military soon and won't be active until 2025. However, Bangtan members have sold their current stocks in exchange for something bigger: major voting rights and the ability to be directly involved in making business decisions at HYBE.
BTS members and Bang PD have both offloaded stocks from HYBE Labels
Each BTS member's stock sale was priced differently. The oldest member, Jin, sold 52,385 shares for approximately KRW 12.7 billion. J-hope let go of 62,784 shares for KRW 15.3 billion. Leader RM offloaded 58,000 shares for KRW 14.1 billion. SUGA sold 68,385 shares for KRW 16.6 billion.
Younger members Jimin, Jungkook, and V also sold their company stocks. Jimin let go of 68,385 shares for KRW 16.6 billion. V offloaded 68,385 shares for KRW 16.6 billion, and finally, BTS' youngest member, Jungkook, sold approximately 68,385 shares for KRW 16.6 billion.
Not just BTS members, HYBE's owner and Bangtan's producer, Bang PD, has reportedly sold his ownership stake from 24,322,584 shares, 58.07 percent, to 21,429,024 shares, which is 51.42 percent. He has offloaded 2,893,560 shares or 6.65 percent.
Previously, BTS members used to be 'special stakeholders,' which meant they could only make significant decisions with Bang PD's permission, approval, or involvement. Now, BTS members can vote independently and have more stocks due to selling their old stocks and the terms and conditions in their new exclusive contract with BIG HIT MUSIC and HYBE.
All the group-related decisions will be now made and decided by the members themselves. The company can no longer impose decisions on them as the Butter singers will have primary voting and decision-making rights.
Consequently, it is anticipated that the seven members may potentially wield their voting rights at HYBE based on their future shareholdings.
HYBE denies rumors of BTS members selling shares
In a fresh new update, HYBE has denied rumors of BTS selling shares to Yonhap News about selling stocks and shares and earning major voting rights. HYBE revealed that the Proof singers have let go of their special designation as shareholders.
"The members did not sell their stocks. It just means that their shareholder contract with Bang Si Hyuk has ended and thus will no longer be considered special related parties. This has nothing to do with stock sales or changes in the stock."
Additionally, HYBE has provided more information about the special contract status between Bangtan and Bang PD. HYBE clarified that their new exclusive contract, which the Dynamite singers signed in September, is unrelated to the sale or change of shares.
However, HYBE also stated that they intend to give Bangtan members major voting rights based on their ownership shares. Further information on this is awaited. Bangtan's three oldest members - Jin, SUGA, and J-hope- are currently enlisted in the military.
Jin is expected to be discharged on June 12, 2024. J-hope will be relieved on October 17, 2024, and finally, SUGA will return on June 25, 2025. Official details regarding RM, Jimin, Jungkook, and V's mandatory military enlistment will be shared by HYBE by December to reconvene by 2025 and release the sequel to their 2015 Korean album HYYH: The Most Beautiful Moment in Life.
