HYBE cashes out $3.5m worth of shares, riding on BTS comeback
South Korean entertainment giant HYBE plans to sell 5.16 billion South Korean won (approx. USD $3.51m) worth of shares, cashing them out after a recent stock rally driven by the highly anticipated return of their biggest acts, BTS.
In a corporate filing on Thursday (January 15), HYBE disclosed plans to sell 24,500 shares of its common stock at 210,740 won ($143.28) apiece, representing a 36% discount to HYBE’s closing price yesterday (January 14).
The divestment comes as HYBE’s stock reached an over four-year high on January 2 at 346,000 won ($235.48), approaching levels last seen on December 30, 2021, when the stock hit 349,000 won ($237.52), before BTS announced a hiatus that sent shares plummeting.
News of the share sale boosted…
