Home Entertainment BTS management firm Big Hit Entertainment sends ripple down market with IPO – Republic World

BTS management firm Big Hit Entertainment sends ripple down market with IPO – Republic World

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BTS management firm Big Hit Entertainment sends ripple down market with IPO – Republic World

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Big Hit Entertainment, the management label of K-Pop band BTS is currently swooning in the success of the band’s latest single Dynamite which has turned out to be one of the biggest hits by BTS. Now, BHE has revealed the price of its initial public offering (IPO), which is priced at 135,000 South Korean won which is approximately $114.99 per share. This is expected to Korea’s biggest listing this year. 

Also read: BTS announces new album titled ‘BE’-Deluxe Edition; Check theme, release date and more

Big Hit Entertainment’s massive IPO

The stock prices for the company were revealed through a regulatory filing on September 28, 2020, and it is expected to make a debut in the market in October. CNBC reports that the regulatory filing, Big Hit Entertainment has raised $820 million dollars through the offering itself. The stock was oversubscribed by investors 1,117 times, according to the filing. The band members have themselves been put into the loop by providing them with a certain amount of shares for each. 

Also read: BTS Fortnite event live stream; How and when to watch the event

The Analyst of Yuanta Securities Korea has been quoted by Al Jazeera stating that Big Hit has been classified as a type of a global export firm. Besides capturing social media, YouTube, and others to infiltrate the market and become household names, BTS also has the Weverse platform which enables fans to get the extra scoop of their favourite stars. BTS has been a prominent name in the global music industry for a long time but managed to break into the USA music market in 2017. 

BTS Big Hit Entertainment BTS' members BTS' net worth BTS' dynamite BTS Big Hit Entertainment BTS' members BTS' net worth BTS' dynamite

Big Hit Entertainment has reported a profit of $42.4 million in the first half of 2020 itself. The company held online concerts and merchandise sales which allowed to generate revenue in the wake of COVID-19. The company enjoys plenty of liquidity in the market which has prompted retail investors to predict that the gross bids for the company could go up to $85 billion. On the other hand, the oversubscription of shares at this level is expected to send some ripples down the short-term money markets and hence the offer is being closely monitored by the central bank of Korea. Another aspect of the oversubscribing is the fans reaching out extensively to subscribe to the IPO. 

Also read: Where is the BTS event in Fortnite? BTS event time, Main Stage location & more

Also read: K-Pop band BTS thanks Indian fans for the love they showered on ‘Dynamite’

(*Disclaimer: The above information is sourced from various websites/ media reports. The website does not guarantee a 100% accuracy of the figures*)

 

 

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