All seven members of South Korean Okay-pop group BTS are set to show into multi-millionaires, when their label Enormous Hit Leisure goes public in October.
Hovering demand for shares in Enormous Hit has given it a market valuation of £3.2bn ($4.1bn), with shares priced on the prime of the anticipated value range.
Enormous Hit boss Bang Si-hyuk, who owns 43% of the administration label, will flip right into a billionaire.
In August, he gave each BTS member 68,385 shares, worth £6.2m in full.
Presently priced at between 105,000-135,000 acquired (£70.03-£88.70) per share, Enormous Hit expects to spice up about £638.3m with the sale of seven.13 million new shares when it is listed on Korea’s Stock Change, the KOSPI, on 15 October.
BTS set a model new doc on Monday when it took merely hours for underwriters to hunt out consumers to take a stake throughout the company when order books opened, with demand 1,000 situations bigger than the accessible stock.
Primarily based on CNBC, die-hard BTS followers in South Korea are hoping to buy on the very least one share throughout the administration label to assist their favourite members.
What’s way more inserting is that that’s South Korea’s largest IPO in three years.
It’s a sign that BTS’ fame has not waned, whatever the group being pressured to cancel their world tour due to the coronavirus pandemic, and the hazard that among the many members would possibly rapidly ought to do two years of compulsory military service.
In 2019, BTS generated 97% of Enormous Hit’s product sales last 12 months, and 88% this 12 months.
BTS has repeatedly broken info of their seven-year historic previous. In August, its single Dynamite grew to develop into in all probability essentially the most seen YouTube video in 24 hours, amassing 101.1 million views in a day.
The Okay-pop band moreover grew to develop into the first Korean artists to prime the Billboard Scorching 100 chart with that single, drawing reward from South Korea’s President Moon Jae-in, who talked about had been writing a “new chapter in Okay-pop historic previous”.
And a web-based stay efficiency held in June set one different Guinness World doc for in all probability essentially the most seen music stay efficiency keep stream, with 756,000 followers changing into a member of from over 100 nations.
The group is made up of Kim Tae-hyung (known as V), Jung Ho-seok (J-Hope, Kim Nam-joon (RM), Kim Seok-kin (Jin), Park Ji-min, Jeon Jung-kook and Min Yoon-gi (Suga).
They’ve credited a variety of their success to their loyal worldwide fan base, known as ARMY, who’ve helped make BTS in all probability essentially the most tweeted-about music group from March to September this 12 months.
Followers are literally eagerly awaiting the upcoming launch of BE, BTS’ second album of the 12 months, on 20 November.