BTS members Jin, J-Hope, and RM sell $8 Million worth of HYBE shares

Three members of the South Korean group BTS have sold the shares of their company HYBE that was earlier known as Big Hit. Members Jin, J-Hope and RM have sold their shares that are worth $8 million. Also, all seven members are expected to miss the Mnet Asian Music Awards (MAMAs) awards show in Seoul, following the reintroduction of health restrictions in South Korea due to the Omicron variant of the COVID virus.

BTS members sell HYBE shares 

As per Variety, Bloomberg reported that Jin, J-Hope, and RM sold close to 32,000 shares in Hybe, previously known as Big Hit Entertainment. Before the company was listed on the stock market last year, Hybe granted the seven band members a combined 4,79,000 shares. The shares have more than doubled in value since the IPO and are now worth over $165 million. 

The media outlet reported that the band is trying to maximize its income before a hiatus when its members have to sign up for South Korea’s mandatory military service. Meanwhile, all the seven band members namely, Jin, Suga, J-Hope, RM, Jimin, V, and Jungkook officially applied for a deferment of military enlistment until the age of 30.

On the other hand, BTS held their first-ever in-person concert in two years in Los Angeles. The Permission To Dance Concert took place on November 27-28 and December 1-2 and the boys are due to play on Friday at the iHeartRadio Jingle Ball Tour. However, due to the rising cases of COVID variant Omicron in South Korea, the band will have to undergo a 10-day mandatory self-quarantine will make the group unable to attend the  Mnet Asian Music Awards. The MAMAs are currently scheduled to be held as an in-person event on December 11, 2021.

BTS recently marked a historic win at the AMAs as they become the first Asian act to win the Artist Of The Year award. The band have also been nominated for the Best pop duo/group performance at the 64th Grammy Awards. During BTS' LA concert press conference, the members spoke about their AMAs win, Jungkook said the award function gave them the energy to perform live on stage at the concert. Jin further revealed the group was a bit nervous before going on the stage and shared their pre-concert rituals.

(Image: Instagram/@bts.bighitofficial)