As of 10:20 AM on May 21st, the Korea Exchange reports that HYBE is currently being traded at 188,400 won, showing a slight decrease of 1.46% (2,800 won) in comparison to the previous day’s trading. This marks the third consecutive day of decline, and is the first instance since March 7th of the previous year that HYBE’s stock price has dipped below the 190,000 won mark.
The continuous decrease in HYBE’s stock price is linked to the consequences of the conflict with its subsidiary ADOR, which has been ongoing for a month.
Currently, both parties are anticipating the resolution of the “injunction against exercising voting rights”filed by ADOR CEO Min Hee-jin against HYBE. The purpose of this legal action is to halt HYBE, who holds 80% of ADOR’s shares and is the largest shareholder, from exercising their voting rights at ADOR’s upcoming extraordinary general meeting on May 31st. The meeting’s agenda involves selecting new management for ADOR, which includes the replacement of CEO Min.
Typically, the court’s decision is expected before the general meeting, usually within two weeks after the hearing. On May 17th, the court concluded the hearing and stated that a decision would be made before May 31st after reviewing the necessary documents, which both sides are required to submit by May 24th.
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