This photo, provided by Big Hit Entertainment, shows the members of BTS posing for photos during an online media day event in Seoul on Sept. 2, 2020.
SEOUL, Sept. 24 (Korea Bizwire) — Big Hit Entertainment, the management agency for K-pop super group BTS, was to start demand forecasting for domestic and overseas institutions Thursday in the runup to its initial public offering (IPO).
Big Hit Entertainment will determine the initial offering price following the two-day forecasting session as one of the largest talent agencies is slated to debut on the country’s main stock market next month.
General subscription for its shares is scheduled for Oct. 5 and 6 amid keen interest in how much money the high-profile IPO will attract from investors.
Big Hit Entertainment plans to sell 7.13 million shares at a price range of 105,000 won (US$90.3) to 135,000 won.
In light of the price range, the market value of Big Hit Entertainment is estimated at up to 4.8 trillion won ($4.13 billion), well above the combined market capitalization of the nation’s three management agencies — JYP Entertainment, YG Entertainment and SM Entertainment.
Local brokerage houses have offered different estimates, with Hana Financial Investment Co. forecasting its market value to reach as high as 14 trillion won.
Big Hit Entertainment’s planned IPO has been drawing keen interest from local investors as BTS made history last month by becoming the first South Korean artist to top Billboard’s Hot 100 singles chart with its disco-pop single “Dynamite.”
(Yonhap)
