Music is life. Music connects the world. In a recent update, all seven members of South Korean K-pop group BTS became multi-millionaires. Firstly, the label Big Hit Entertainment goes public in October. Today, soaring demand for Big Hit is given its market valuation of around ($4.1bn). The share prices are on top of the expected price range.
In the Big Hit division, the boss Band Si-hyuk owns around 43% of the management label, and he will be going to a billionaire.
Si-hyuk passed each valuable BTS member a 68,385 shared, which is worth £6.2m in total. The current price is between somewhere 105,00-135,00 won per share. Big Hit Entertainment would raise about £638.3m with another sale of 7.13 million new shares.
Big Hit Entertainment is listed on Korea’s Stock Exchange, the KOSPI, on 15th October. BTS recently set a new record on Monday, when within few hours they found investors to take a stake in the firm. When order books opened, they demanded 1,000 times higher than the available stock.
- BTS shared with there friends a message to “stay strong” during a difficult year.
- BTS K-pop group also reacts with “tears in eyes” after making Billboard history.
- BTS’s Dynamite also shatters YouTube Records
- BTS’ also head for UK number one
As per a recent update coming from CNBC, BTS fans in South Korea looks forward to buying at least one share. To support their favorite member, they would purchase management labels. What’s more sticking is K-Pop South Korea’s largest IPO in three years.
All of this is a sign that BTS’ popularity is at an all-time high. So, despite the group being forced to cancel their world tour because of the global situation. The risk that some of the members would have to go for two years of compulsory military service.
During 2019, BTS generated 97% of Big Hit’s sales. This year it is 88%. BTS also repeatedly broke records in a timeline of seven years.
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