[theqoo] LOOKING AT BIGHIT'S IPO FLOWCHART ㅋㅋㅋ THEY REALLY DIDN'T GIVE ANY STOCKS TO HYBE'S FEMALE EXECUTIVES ONLY

"The basic sequence of events before and after Big Hit's IPO"

t/n: here are the notable events: 

2016~2017: Lee Seungseok served as BigHit's auditor

2011~2019: Kim Joongdong served as an outside director at Big Hit

2016: BigHit granted stock options to Choi Yoojung, Pdogg, Yoon Seok-jun, Kim Shin-gyu, and Chae Eun
(exercisable starting January 2019)

2017: Bang Sihyuk mentions going public

December 2018: 

Bang Sihyuk discussed 'Vice President Choi Yoojung's shares' with Kim Joongdong
Kim Joongdong made plans with Yang Juseok of Korea Investment & Securities (who handled Netmarble’s investment in Big Hit)

April 2019: 

Yang Junseok leaves Korea Investment & Securities

Establishment for Easton PE (Private equity firm)

Yang Junseok joins Easton PE 

June 2019:

Lee Seungseok joins Easton PE as a registered executive.

Noh Bong-jo (Bang Si-hyuk's acquaintance) joins Easton PE as a registered executive.

Easton PE's first fund raised 25 billion won (Hoban Construction's 10 billion won).

- Purchased shares of former Vice President Choi Yoojung, etc.; no plans for an IPO.

- (Timeline uncertain) Former Communications Director Chae Eun's stock options cancelled.

November 2019:

Easton-Newmain fund 2: 105 billion won

Shareholder agreement signed to distribute 30% of profits to Bang Sihyuk

2020: 

Kim Joongdong appointed as BigHit's Chief Investment Officer

[...]

Yang Junseok appointed as a registered director.

Oct 15th 2020: 

BigHit Entertainment goes public (IPO price: KRW 135,000 → ceiling price: KRW 351,000) 

Easton PE and Stick Investment sell 364.4 billion won in the four days following the listing

End of October: 

All registered executives of Easton PE resign

2021: 

Compensation

Bang Sihyuk: 400 billion won

Kim Joongdong: 100 billion won, Yang Jun-eok: 50 billion won, Kim Changhee: 50 billion won (Chae Jin-ho's performance bonus: 17 billion won+), etc.

----

Choi Yoojung (female executive): BTS HYYH Producer, HYBE's Co-founder

"I was curious why Choi Yoojung, a key figure in BTS's success, sold her BigHit shares and left the company before the IPO, and this article mentions it for the first time.
"They kept silent about the IPO, even to Vice President Choi Yoojung. In a phone call with a reporter, Vice President Choi said, 'There was absolutely no talk about the IPO.'"

Chae Eun: BTS's Crisis Management Team: Key Personnel for US Expansion

"All I have are a few work diaries, where I document everything, and a recording of the conversation when the vice president asked me to resign. And I have a resignation agreement, which was written with terms that were absolutely detrimental to me... Looking back, I realize how naive and foolish I was. If they promise to give you stock options, but then make up excuses before you can exercise them, you'll just have to suffer. I think there are quite a few people like me."

Min Heejin: Ador former CEO

"Former CEO Min claimed, “In January 2019, Chairman Bang personally told me he had no plans to go public and suggested, ‘Cash is better than stocks. Let’s replace it with a signing bonus (a one-time incentive).’”

He also revealed, “I signed the contract based on Chairman Bang’s word. Another associate who was trying to recruit me at the time was also aware of this.”

A signing bonus refers to a one-time cash incentive given in addition to salary.
Min later joined Big Hit Music in July 2019 as Chief Brand Officer (CBO).

This statement came three months before the establishment of the private equity fund (PEF) management company (SPC), founded by close associates of Chairman Bang who are now under suspicion of having seized shares meant for investors."

--

Min Hee-jin was told there were no IPO plans, so she added a put option clause. But when she tried to exercise it, they treated it like a toxic clause and said, “Oh, that’s stock~,” then slapped on an 8-year non-compete in the same industry ㅋㅋㅋㅋㅋ  (The others only got 5 years).

--- 

What are Stick Investment and Easton PE?
→ They are the key private equity funds behind the 400 billion won HYBE fraud scandal.

• 2018: Stick Investment

• 4 months before the 2019 founding of Easton PE:

They absorbed the shares of female executives and shareholders in Big Hit, saying there were “no IPO plans,” and profited. Then, after the IPO was completed in September 2021, they suddenly and immediately shut down, pointing to clear signs of premeditated fraud.

During this process, Bang Sihyuk personally took 30% of the private fund’s profits, and used that money to buy a house in the US 

Stick Investment and Easton PE are private equity firms (PEFs) that, before HYBE (then BigHit) went public in 2020, entered into contracts with Chairman Bang Sihyuk and shareholders to acquire HYBE shares. These firms signed shareholder agreements with Bang where, if the IPO succeeded, Bang would be guaranteed a portion of their profits. In that process, it became known that they bought out shares from earlier investors who had been told there were no plans for an IPO, which sparked controversy.

original post: here

1. I wonder what BTS is thinking of this?

2. The trashiest Hannam company, farewell this time 

3. Why are people even hating Min heejin...? Min Heejin is the one who ousted them you r*tards

4.  ㅋㅋㅋㅋㅋㅋㅋㅋ Look at everyone here talking the same way swearing at Min Heejin, so funny... They reap what they sow 

5. Not HYBE, but Hannams...

6. They stole the money from all the women ㅋㅋㅋㅋㅋ

7. The legendary Hannams

8. Min Heejin is clearly the victim here, what are the kids saying here?

9. And they're also eating the money from female fans too ㅋㅋ

10. Meanwhile most of their consumers are still women ㅋㅋㅋㅋㅋㅋㅋ 

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