The South Korean label’s upcoming IPO is set for huge success if their overwhelming demand leading up to it suggests anything.
Big Hit Entertainment is the South Korean label behind the world’s favourite boyband right now, BTS. They’re taking the huge success of their roster of artists, led in notoriety by the BTS boys, to the public stock exchange in Seoul early next month.
The label have priced their upcoming offering at the top of their predicted valuation range. The company’s IPO was predicted to be worth between 105,000 and 135,000 won per shares and they have settled on the highest possible value worth roughly $115 a share
It seems they weren’t wrong to expect a lot from their investment value as they have already reported being overwhelmed by potential investors on Monday this week. They were oversubscribed 1,117 times according to their regulatory filing.
Despite the potential downturn from COVID this year, including the cancellation of BTS’s huge planned world tour, the company have still made good money in 2020. The success of BTS hasn’t faded in lockdown and their blowout online concert proved that even at home they can provide a sell out gig.
Big Hit Entertainment are expected to raise 962.55 billion Korean won through their IPO.