BTS To Become Multi-Millionaires Once Label Goes Public.
All seven members of South Korean K-pop cluster BTS are set to become multi-millionaires, once their label massive Hit amusement goes public in October. Soaring demand for shares in massive Hit has given it a market valuation of £3.2bn ($4.1bn), with shares worth at the highest of the expected price vary.
Big Hit boss Bang Si-hyuk, United Nations agency owns forty-third of the management label, can become a have. In August, he gave every BTS member 68,385 shares, worth £6.2m in total.
Currently priced at between a hundred and 5,000-135,000 won (£70.03-£88.70) per share, massive Hit expects to lift concerning £638.3m with the sale of 7.13 million new shares once it's listed on Korea's stock market, the KOSPI, on fifteen October.
BTS set a brand new record on weekdays once it took simply hours for underwriters to seek out investors to require a stake within the firm once order books opened, with demand 1,000 times beyond the out there stock.
According to CNBC, rock-ribbed BTS fans in Asian countries hope to shop for a minimum of one share within the management label to support their favorite members. What is even additional hanging is that this can be South Korea's largest initial offering in 3 years.
It's a sign that BTS' quality has not waned, despite the cluster being forced to cancel their world tour thanks to the coronavirus pandemic, and therefore the risk that a number of the members might shortly need to do 2 years of obligatory military service.
"One of the highest reasons for going public now's associated with the company's effort to diversify its industry and stream of revenue," says Damyoung Hong, United Nations agency reports on K-pop news for the Choson Herald. The woman told ME that the coronavirus pandemic has hardly changed massive Hit's success:
"Despite the off tours, massive Hit managed to realize record sales from robust digital and physical album sales, yet as BTS' paid on-line concert in the Gregorian calendar month. Considering such growth momentum, massive Hit would have thought-about currently because the right time to travel public." In 2019, BTS generated 97 of huge Hit's sales last year, and half a mile this year.