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

Big Hit Entertainment, manment label of K-Pop band BTS is currently swooning in success of band's latest single Dynamite which has turned out to be one of biggest hits by BTS. w, BHE has revealed 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. 

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Big Hit Entertainment's massive IPO

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

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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 ors to infiltrate market and become household names, BTS also has Weverse platform which enables fans to get extra scoop of ir favourite stars. BTS has been a prominent name in global music industry for a long time but mand to break into USA music market in 2017. 

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

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(*Disclaimer: above information is sourced from various websites/ media reports. website does t guarantee a 100% accuracy of figures*)