Earlier today, Big Hit Entertainment revealed that their initial public offering (IPO) is officially kicking off.
In an official statement, the label explained they plan on listing in the Korea Composite Stock Price Index (KOSPI), the index of all common stocks traded on the Stock Market Division of the Korea Exchange and the equivalent of the S&P 500 of the United States. The news came shortly after it was revealed that BTS hit the NO.1 on Billboard Hot 100 song charts with “Dynamite.”
Big Hit is offering a total of 7.13 million stocks at a price range of 105,000 won (approximately $88) through 135,000 won (approximately $114). Their market capitalization amounts to a number between 3.55 trillion won (approximately $2.99 billion) and 4.57 trillion won (approximately $3.85 billion).
According to the official report, the label will likely wrap up the IPO process in October.
Shortly after the news went viral, it was reported that each BTS member has become a shareholder in Big Hit Entertainment. It’s been reported that each member now owns 68,385 shares of the label. If the process goes smoothly and Big Hit Entertainment is listed on the Korea Composite Stock Price Index, each member will receive around $7.7 million each, BTS members will own around 6.7% of the total shares of the label.
Meanwhile, Bang Si hyuk remains the largest shareholder owning 43.44% while Netmarble holds about 25%. It’s been reported that NH Investment & Securities Co., Korea Investment & Securities Co., and JPMorgan Chase & Co. are leading the offering.
Related: BTS Reveals Jungkook Lost His Voice Because He Cried So Much After Hearing The Billboard No.1 News
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