[theqoo] FINANCIAL SUPERVISORY SERVICE INVESTIGATES HYBE FOR ‘VIOLATION OF THE CAPITAL MARKETS ACT

Financial authorities have decided to investigate whether there was a possibility of violating the Capital Markets Act during HYBE’s past listing process. This decision comes after it was revealed through reports that HYBE’s Chairman Bang Sihyuk and private equity funds (PEFs) signed a shareholder agreement that involved sharing investment profits.

A senior official from the Financial Supervisory Service (FSS) stated on the 29th, “We plan to immediately investigate the possibility of a Capital Markets Act violation involving HYBE and Chairman Bang,” adding, “There are many aspects to examine, including whether there were any omissions in the securities registration statement, starting from the PEFs’ acquisition of shares in HYBE before the listing.” The official further stated, “We will also focus on reviewing not only the appropriateness of the listing process but also whether there were any suspicious transactions during this period.”

Chairman Bang entered into an agreement with three PEFs 1-2 years before HYBE’s IPO in 2020, stipulating that he would receive about 30% of the investment profits under the condition that an initial public offering (IPO) would be conducted within a certain period. However, the content of this agreement was not disclosed during the listing process. The PEFs sold their shares in large quantities starting from the first day of the IPO without any lock-up period, and Chairman Bang received approximately 400 billion won from these PEFs.

An FSS official said, “We will look into whether not disclosing the shareholder agreement was appropriate from an investor protection perspective,” and added, “It is known that HYBE informed shareholders who held shares before the PEFs that there were no plans for an IPO. If that is true, we will also investigate what their intentions were.”

source: https://n.news.naver.com/article/015/0005063459?sid=101

original post: here

1. They only learned about it now??

2. Hul 

3. Do it properly 

3. Reveal everything about them 

4. Do it faster 

5. ㅋㅋㅋㅋㅋㅋㅋㅋ After all this time?

6. Do it properly 

7. You guys are already late so better do it properly 

8. Seriously if you’re going to do it, do it well. Watch Bang Sihyuk try to escape this 

9. ㅋㅋㅋㅋㅋㅋ

10. Do it properly f*ck ㅡㅡ