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K-pop boyband BTS members cash out $8.5 million worth of shares in their management agency, Hybe

Added 12-02-21 03:14:02am EST - “Three members ?" Jin, J-Hope and RM ?" sold the Hype shares over several regular trading sessions from October 13 to November 9.” - Businessinsider.com

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Posted By TheNewsCommenter: From Businessinsider.com: “K-pop boyband BTS members cash out $8.5 million worth of shares in their management agency, Hybe”. Below is an excerpt from the article.

Three members of K-pop boyband BTS have sold around 10 billion South Korean won ($8.5 million) worth of shares in their management agency, Hybe, according to the Korean Herald.

The members — Jin, J-Hope and RM — sold the Hybe shares over several regular trading sessions from October 13 to November 9, according to the media outlet, citing a regulatory filing.

Hybe founder and Chairman Bang Si-hyuk had gifted 478,695 common shares of the agency to the band members in September 2020 before the company went public. The 1.4% stake was evenly distributed to the seven members.

The move was "to strengthen long-term partnership with major artists and boost morale," said the agency, which was previously known as Big Hit Entertainment, according to Reuters.

The K-pop sensation is currently in Los Angeles where it's holding in-person concerts for the first time since the pandemic started.

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