One day before BigHit (now HYBE) went public,
Bang Sihyuk gathered the early investors of BigHit and said,
"There are no plans for BigHit to go public."
Bang Sihyuk gathered the early investors of BigHit and said,
"There are no plans for BigHit to go public."
But it was a lie, wasn't it?
Behind the scenes, they were preparing for the IPO.
He was trying to get the early investors to sell their BigHit shares.
The investors who trusted Bang Sihyuk ended up selling their shares.
Behind the scenes, they were preparing for the IPO.
He was trying to get the early investors to sell their BigHit shares.
The investors who trusted Bang Sihyuk ended up selling their shares.
And there were three private equity funds (PEFs)
that bought up these shares at around 30,000 to 40,000 won per share,
and very coincidentally,
they were founded by people close to Bang Sihyuk.
The private equity funds began offloading large amounts of HYBE stock,
and as a result, HYBE’s stock price plummeted,
However, between these private equity funds and Bang Sihyuk,
there was a secret agreement
that neither the Financial Supervisory Service knew about
nor was disclosed in the securities registration statement.
The agreement stated:
“We will carry out an IPO within a certain period, and if the IPO succeeds, we will receive 30% of the capital gains.”
HYBE succeeded with its IPO and went public,
and in doing so, Bang Sihyuk pocketed the promised 30%, around 400 billion won.
His close associates who were in the private equity funds
also walked away with large sums 100 billion, 50 billion, and so on.
After selling off all of HYBE’s shares, the private equity funds shut down.
One of the funds was established a year before HYBE’s IPO
and closed a year after the IPO
a very "coincidental" timing, to say the least.
Currently, both the police and the Financial Supervisory Service are investigating Bang Sihyuk.
- Look at how they deceived the shareholders. The stock was 350,000 won on the first day of listing, but when they dumped all those shares, the price crashed to 150,000 won.
And they say it’s not a legal problem?
So from now on, any company going public can do the same thing to make money and it’s fine?
- The shareholder agreement clearly had a negative impact on the stock price and caused financial harm to many small shareholders... I’m just speechless...
This is a much more serious case than NewJeans, but it doesn’t seem to get as much attention.
I’m writing this carefully in simple terms hoping even the netizens will understand it properly.
that bought up these shares at around 30,000 to 40,000 won per share,
and very coincidentally,
they were founded by people close to Bang Sihyuk.
On October 15, 2020,
HYBE was listed on the KOSPI.
Although HYBE made a spectacular debut, rising 150% above its offering price (135,000 won)...
HYBE was listed on the KOSPI.
Although HYBE made a spectacular debut, rising 150% above its offering price (135,000 won)...
The private equity funds began offloading large amounts of HYBE stock,
and as a result, HYBE’s stock price plummeted,
dropping to half its peak within just a week.
Meanwhile, the private equity funds made massive profits
probably over 1 trillion won ㅋㅋ...
Meanwhile, the private equity funds made massive profits
probably over 1 trillion won ㅋㅋ...
However, between these private equity funds and Bang Sihyuk,
there was a secret agreement
that neither the Financial Supervisory Service knew about
nor was disclosed in the securities registration statement.
The agreement stated:
“We will carry out an IPO within a certain period, and if the IPO succeeds, we will receive 30% of the capital gains.”
HYBE succeeded with its IPO and went public,
and in doing so, Bang Sihyuk pocketed the promised 30%, around 400 billion won.
His close associates who were in the private equity funds
also walked away with large sums 100 billion, 50 billion, and so on.
After selling off all of HYBE’s shares, the private equity funds shut down.
One of the funds was established a year before HYBE’s IPO
and closed a year after the IPO
a very "coincidental" timing, to say the least.
Currently, both the police and the Financial Supervisory Service are investigating Bang Sihyuk.
He could face up to life imprisonment.
Let’s take a look at how HYBE tried to explain it:
“All four underwriters and legal advisors determined that, since the agreement between certain shareholders did not cause any financial loss to general shareholders (?),
it was not something that needed to be disclosed in the securities registration statement.”
ㅎ...
“All four underwriters and legal advisors determined that, since the agreement between certain shareholders did not cause any financial loss to general shareholders (?),
it was not something that needed to be disclosed in the securities registration statement.”
ㅎ...
- Look at how they deceived the shareholders. The stock was 350,000 won on the first day of listing, but when they dumped all those shares, the price crashed to 150,000 won.
And they say it’s not a legal problem?
So from now on, any company going public can do the same thing to make money and it’s fine?
- The shareholder agreement clearly had a negative impact on the stock price and caused financial harm to many small shareholders... I’m just speechless...
This is a much more serious case than NewJeans, but it doesn’t seem to get as much attention.
I’m writing this carefully in simple terms hoping even the netizens will understand it properly.
original post: here
1. WE BELIEVE IN MONEY
2. This is way worse than NewJeans, why is everyone so quiet about this?
3. Economic crime is serious, damn it. This is more important than NewJeans, but stuff like this always stays quiet ㅋㅋ
4. While all this is happening, people are still saying things like "Poor HYBE" "They're pushovers" ㅋㅋㅋㅋㅋㅋㅋ Should they be classified as the same as boy crazies?🤣
5. After doing all that, they tried to boost the stock price again by doing some NFT business,
and the executives sold their shares...6. Everything that blew up last year was seriously bad, so regardless of NewJeans, I was already convinced HYBE was doomed. I’m really amazed at how this is being buried
This isn’t just about getting punished, it should be dealt with very strictly
This isn’t just about getting punished, it should be dealt with very strictly
7. There were a lot of issues back then too, so why is it only coming out now? The BTS stockpiling scandal and all, they had so many things swept under the rug at the time
Please, let this investigation be clean and free of corruption this time
Please, let this investigation be clean and free of corruption this time
8. Stock manipulators should be sentenced to d*ath
They won’t do things like that if they can’t use the money they earn
They won’t do things like that if they can’t use the money they earn
9. Sihyuk-ah, HYBoong-ah, do you think contracts are a joke? And is the law a joke?
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