Big Hit Entertainment stock market debut has rocked the stock market in South Korea!
On October 15 local time, Big Hit Entertainment was officially listed on 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 United States’ S&P 500.
Initially, the stock price was set at of 135,000 won (approximately $118), but it nearly doubled the share price immediately after making its debut, the stock price began trading at 270,000 won (approximately $235) and reached a high of 300,500 won (approximately $262).
Big Hit has given shares to BTS (68,385 shares), they’re currently valued at $15 million for each member; each member could’ve also gained much more if they also purchased shares individually as well.
Big Hit Entertainment founder and CEO Bang Si Hyuk is now officially a billionaire and as of this writing is worth more than $1 billion, the actual number will fluctuate depending on the stock price. He is one of the top 10 largest stock ick persons in South Korea.
Bang Si Hyuk owns 12,377,337 Big Hit shares worth 3.1933 trillion won ($2.8 Billion ), far exceeding Lee Soo Man of SM Entertainment (139.8 billion won / $122 million) and J.Y. Park of JYP Entertainment (213.9 billion won / $186 million ).