The demand for Big Hit Entertainment shares is soaring, and the final market valuation is $4.1 billion or £3.2 billion. It seems that the price of shares is now above the highest expectation. According to media and reports, Bang Si-hyuk, the boss, and 43% shareholder of the label, is all set to become a billionaire. Besides, in August, he allotted each member of the BTS K-pop band 68,385 shares. So, there are chances of the whole team of BTS to become millionaire. The shares with the band members are worth a total of £6.2 for each.
Presently, the price of each Big Hit Entertainment share is between £70.03 to £88.70. However, the team is planning to raise over £638.3 million after selling 7.13 million additional shares. They are now waiting for a listing of the label under the KOSPI or the Korean Stock exchange. The event is scheduled to take place on October 15. Moreover, the band set a new record when underwriters took less than a few hours to find stakes in the organization after bookings were open. The demand on Monday, September 28, was almost 1000 times higher than it is usually.
BTS to become millionaire with the support of fans from all over the world
According to CNBC news, fans of BTS are trying to acquire at least one share in the Big Hit management company to show support to their favorite member. Surprisingly, the present situation is the largest IPO in South Korea in the past three years. It has become clear that the popularity of this K-pop band has not decreased even a bit. They are still ruling hearts despite the cancellation of their world tour due to COVID-19. Another reason for the tour cancellation is that some BTS members will have to take a break soon. There is a mandatory rule in South Korea that calls for every young citizen to serve in the military for two years, at least.
The K-Pop reporter for the Korean Herald, Damyoung Hong, says that there are reasons for making the label popular at this time. One of the primary points here is to start expanding the business at this time. She adds that the COVID-19 has hardly affected the success of BTS and Big Hit. Despite the cancellation of a major tour, earnings from physical and strong digital album sales are massive. Besides, the online BTS concert that took place in June was a big hit as well. If you consider the present momentum, Big Hit’s decision to go public now makes sense.
BTS is breaking records and creating history at every step
BTS is a massive record-breaker of all times, and they have proved their consistency for seven years. The release of their single, Dynamite, in August, has taken the band to new heights altogether. It became the video with the most views on a single day that went up to 101.1 million within 24 hours. There are high chances of BTS to become millionaire now the growth is so vast. It also became the first K-Pop song to make it top of the Billboard top 100 charts. As a response to such success, Moon Jae-in, President of South Korea, says congratulations. He adds that the band is creating newer chapters continually in the history of K-Pop.
The concert in June also creates history and a place in the Guinness Book of World Records. It has become a live streaming music concert with maximum views. Over 756,000 fans joined to witness the show from all across the globe. The group comprises of six members. They are V or Kim Tae-Hyung, Suga or Min Yoon-gi, J-Hope or Jung Ho-Seok, Jeon Jung-kook, RM, or Kim Nam-Joon, Park Ji-min, and Jin or Kim Seok-jin. The band says that a considerable part of the success credit goes to the BTS ARMY, their fan club. The same does a lot of publicity on behalf of the members.