HYBE has announced that it is actively cooperating with the investigation surrounding the controversies related to its IPO.
On July 9, HYBE released an official statement, saying:
“We apologize for causing concern due to the information related to our IPO process.”
The company added:
“Regarding the issues currently being raised, we are actively cooperating with financial authorities and the police to establish the facts by submitting detailed explanations and relevant documents. Even if it takes time, we will provide all necessary clarifications to prove that the IPO at the time was conducted in compliance with laws and regulations.”
Previously, the media outlet Chosun Ilbo reported that financial authorities were planning to refer HYBE’s chairman, Bang Si Hyuk, to the judiciary on suspicion of stock fraud. He is suspected of concealing the IPO plan from early investors in order to sell them shares, then allegedly profiting around 200 billion won once the company was listed.
Official statement from HYBE:
“안녕하세요, 하이브입니다.
당사의 상장 과정과 관련된 소식들로 심려를 끼쳐 드린데 대해 송구스럽게 생각합니다.
현재 제기되고 있는 사안들에 대하여 당사는 상세한 설명과 함께 관련 자료를 제출하는 등 금융당국과 경찰의 사실관계 확인에 적극 협조하고 있습니다.
다소 시간이 걸리더라도 당시 상장이 법률과 규정을 준수하며 진행됐다는 점을 충실히 소명하겠습니다.
감사합니다”
Journalist: Shawn
Translator: Shawn
Source: Website Hybe
