Three members of K-pop powerhouse boyband BTS have sold some of their shares of HYBE for over US$8million.
According to Bloomberg, BTS members J-Hope, Jin and RM recently sold a combined 31,986 shares of HYBE stock, which had netted the trio a total of approximately US$8.4million per regulatory filings.
The sale of the shares took place between October 13 and November 9, a week before stock in the entertainment company had peaked at all-time-high on November 16. At the time, the price was double of the company’s initial public offering (IPO) price from October 2020.
Before the IPO, HYBE founder Bang Si-hyuk had reportedly given 478,695 shares – a 1.41% stake in the company that is now worth approximately US$165million – to the group’s seven members, split evenly, per Bloomberg.
Jin (real name Kim Seok-jin) sold 16,000 shares worth US$4.1million, J-Hope (real name Jung Ho-seok) unloaded 5,601 shares for US$1.57milion, while RM (Kim Nam-joon) sold 10,385 shares in exchange for US$2.75million.
Bloomberg also claimed that all seven BTS members are considering to cash in “as much earnings as possible” before their pending mandatory military conscription begins. It’s worth noting that the group’s oldest member Jin, who turns 29 on Saturday (December 4), has been granted a deference for his military service and is now slated to enlist in late 2022.
Meanwhile, BTS are reportedly unable to attend this year’s Mnet Asian Music Awards (MAMA) ceremony, due to a newly-implemented quarantine order enacted by South Korea that requires all inbound travelers to serve a self-isolation period of 10 days.
Credit: Original article published here.