Big Hit Entertainment Prepares for $812 Million USD IPO

The biggest IPO in South Korea in the past three years.

By
Music 
16,148 Hypes 3 Comments

South Korean entertainment company Big Hit Entertainment is now looking at its initial public offering, a move it has been considering as early as 2017.

Founded by lyricist Bang Si-hyuk in 2005, the company manages an array of talent including the massively-popular boy bands BTS and TXT, sololists Lee Hyun and RM, as well as actor Kim Tae-hyung. According to Bloomberg, Big Hit Entertainment will be selling 7.13 million new shares, which roughly equates to $812 million USD in value, making it the largest IPO in South Korea for the past three years. The offering comes at a time of turmoil for the K-Pop industry, which has largely been affected by the ongoing coronavirus pandemic. Listed competitor SM Entertainment Co. has seen its stock price plummet by a staggering 43 percent just this year due to concert cancellations amid COVID-19. It’ll also test the South Korean stock market in general, which has suffered from low listing volumes over the past few years. Bloomberg‘s data indicates that only $2.81 billion USD has been raised through first-time share sales in 2020, falling short of the $3.38 billion USD made in 2019.

Since the IPO announcement, Big Hit Entertainment has also gifted 68,385 shares to each member of BTS, with each share priced around $113 USD. Bang will remain as the largest shareholder of the company, with 43.44 percent, while gaming giant Netmarble comes in second at 25 percent stake.

Elsewhere in business-related news, Guess Inc. has seen a 42 percent drop in revenue during the second quarter of 2020.

Read Full Article

What to Read Next

Razer's Modular Naga Pro Mouse Caters to Diverse Gamers
Tech

Razer's Modular Naga Pro Mouse Caters to Diverse Gamers

FPS, MOBA, or MMO — it’ll fit them all.

'NBA 2K21' to Introduce User-Created Female Players
Gaming

'NBA 2K21' to Introduce User-Created Female Players

Only available on next-gen consoles, however.

Ja Morant Wins NBA Rookie of the Year
Sports

Ja Morant Wins NBA Rookie of the Year

Earning 99 out of 100 first-place votes.


Norse Projects Prepares for Nordic Landscapes With Fall 2020 GORE-TEX Collection
Fashion

Norse Projects Prepares for Nordic Landscapes With Fall 2020 GORE-TEX Collection

Technical outerwear and headwear ready for the colder months ahead.

adidas Originals Teases Upcoming LEGO x ZX 8000 Collab
Footwear

adidas Originals Teases Upcoming LEGO x ZX 8000 Collab

Part of the German sneaker giant’s ongoing A-ZX project.

Nike Air Max Plus "Metallic Gold" Set for Limited Re-Release
Footwear

Nike Air Max Plus "Metallic Gold" Set for Limited Re-Release

Mark your calendars for September 12.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. By adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.