“8.6 billion won wiped out in seven months” ... What happened to Bae Yong-joon and Ju Ji-hoon’s stock holdings?

[Financial News] The valuation of shares in Blitzway Entertainment held by actors Bae Yong-joon and Ju Ji-hoon fell by about 8.6 billion won in just over seven months. Their combined share value, about 12.2 billion won in March, had dropped to about 3.6 billion won based on the closing price on November 2.
According to the securities industry on the 4th, Blitzway Entertainment, a KOSDAQ-listed company, closed at 2,525 won on the 2nd. That was about 70.4% lower than on March 13, when the stock surged after news broke that Bae Yong-joon had bought additional shares.
Bae Yong-joon holds 860,375 shares in Blitzway Entertainment, representing an 8.63% stake. Based on the closing price on the 2nd, his shares were valued at about 2.17 billion won.
On March 13, the same stake was valued at about 7.33 billion won. As the share price fell thereafter, the value of Bae Yong-joon’s shares declined by about 5.16 billion won.
Ju Ji-hoon, an actor represented by the same company, also saw the value of his holdings fall sharply as the share price declined. He is also a major shareholder in Blitzway Entertainment.
Ju Ji-hoon, whose real name is Ju Young-hoon, holds 571,418 shares in Blitzway Entertainment, equivalent to a 5.73% stake. The value of his shares fell from about 4.87 billion won on March 13 to about 1.44 billion won on November 2, a difference of about 3.43 billion won.
The value of Bae Yong-joon and Ju Ji-hoon’s shares fell by about 5.16 billion won and 3.43 billion won, respectively, for a combined decline of about 8.58 billion won. However, this is a decrease in the valuation of their holdings resulting from share-price fluctuations, and is distinct from a realized loss arising from an actual sale.
The calculations use the number of shares held after Blitzway Entertainment carried out a 5-for-1 reverse stock split in August.
Bae Yong-joon bought about 420,000 additional shares in Blitzway Entertainment on March 5 and 6. He spent about 392 million won on the purchases.
After news of the additional purchases broke, the stock hit the upper price limit on March 11 and 12, two days in a row. It recorded its highest closing price at the time on the 13th, but then turned downward, with losses widening through early November.
Blitzway Entertainment posted an operating loss of about 3.4 billion won on a consolidated basis in the first half of this year. Although actors and singers including Ju Ji-hoon, Chun Woo-hee and D.O. are represented by the company, continued losses in its management and content businesses mean that it needs to improve profitability.
The company has set out to expand its revenue sources by strengthening its music business. In May, its music-business subsidiary Clap attracted an investment of about 5.2 billion won from Japan’s Bandai, and in June it changed its name to Blitzway Music.
The company is pursuing business diversification by adding music to its existing actor management, drama production and figure businesses.
Bae Yong-joon currently serves as an other non-executive director of Blitzway Entertainment. His recent activities came to light in September when golfer Kim Seo-a posted a photo with him on her social media (SNS).
Ju Ji-hoon will appear in the Disney+ original series The Remarried Empress, set to be released on the 4th. He plays Sovieshu, emperor of the Eastern Empire, and appears in the series alongside Shin Min-a, Lee Jong-suk and Lee Se-young.


[email protected] Han Seung-gon Reporter