Shares in firm behind SKorean hit BTS soar in trading debut

The seven members of BTS became instant multi-millionaires following the debut of their record label's shares in Seoul

BTS' label Big Hit Entertainment debuts at double its IPO price in Korea

Although the management of the company's shares may seem alien to K-Pop fans, the reality is that all of them have been pending regarding the way in which Big Hit Entertainment chose to evolve as a company and the first results have already be shown. Bang handed out 68,385 shares, worth 9.2 billion won at the IPO price, to all seven members of the boyband last month.

The company's shares opened at 270,000 won (USD 236), about double their initial public offering price. They surged 30 per cent, hitting the daily trading limit, before falling back and closing at 258,000 won ($225 US), bringing the company's valuation to 8.7 trillion won ($7.5 billion US).

Due to the economic strength that BTS and Big Hit Entertainment have gained in the most recent years, this transition was a process that kept analysts from South Korea and overseas in check.

If they are forced to leave the stage it could blow a hole in Big Hit's finances: BTS were responsible for 97 percent of its revenues previous year, according to the IPO prospectus.

At a listing ceremony, he thanked "all the fans who have always loved and believed in Big Hit's artists and content" and "our remarkable artists of whom we're so proud".

Big Hit Entertainment’s co-CEO Bang Si-hyuk middle had pledged in 2017 to double the company’s revenue every year a promise he has kept
Big Hit Entertainment’s co-CEO Bang Si-hyuk middle had pledged in 2017 to double the company’s revenue every year a promise he has kept

South Korean boy band BTS is one of the biggest musical acts in the world, and they're now also making sweet music on the South Korean stock market.

This is despite reports that the band members will face mandatory military service, despite fans and politicians calling for an exemption. Founder and co-CEO Bang Si-hyuk stated the administration agency would proceed "to analysis, problem, uncover revolutionary enterprise fashions, and apply them to proceed to develop within the global market". Bang's stake is now worth some $2.7 billion, vaulting the 48-year-old into the ranks of South Korea's richest individuals.

BTS debuted in 2013 and has a legion of global supporters who call themselves the "Army".

Unlike many other K-pop artists whose carefully cultivated images are shaped by their management agencies, BTS members actively engage with their fans through social media and often write their own lyrics.

However, the IPO has also exposed what some have said is an over-reliance of Big Hit on the success of the group, with a regulatory filing showing that BTS accounted for just under 88% of the firm's revenue for the first half of 2020.

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