Every one of the seven individuals from South Korean K-pop group BTS are set to become multi-millionaires, when their label Big Hit Entertainment goes public in October.
Taking off interest for shares in Big Hit has given it a market valuation of £3.2bn ($4.1bn), with shares estimated at the head of the normal value go.
Success supervisor Bang Si-hyuk, who possesses 43% of the management label, will turn into a very rich person.
In August, he gave each BTS part 68,385 shares, worth £6.2m altogether.
Presently evaluated at between 105,000-135,000 won (£70.03-£88.70) per share, Big Hit hopes to raise about £638.3m with the offer of 7.13 million new offers when it is recorded on Korea’s Stock Exchange, the KOSPI, on 15 October.
BTS set another record on Monday when it took only hours for underwriters to discover speculators to take a stake in the firm when request books opened, with request multiple times higher than the accessible stock.
As indicated by CNBC, die-hard BTS fans in South Korea are wanting to purchase at least one share in the management label to help their favourite individuals.
Is considerably all the more striking this is South Korea’s biggest IPO in three years.
It’s an indication that BTS’ notoriety has not waned, in spite of the group being compelled to drop their reality visit due to the coronavirus pandemic, and the danger that a portion of the individuals may before long need to complete two years of obligatory military assistance.
“One of the top reasons for going public now is related to the company’s effort to diversify its business and stream of revenue,” says Damyoung Hong, who gives an account of K-pop news for the Korea Herald. She disclosed to me that the Covid pandemic has scarcely influenced Big Hit’s prosperity:
“Despite the cancelled tours, Big Hit managed to achieve record sales from strong digital and physical album sales, as well as BTS’ paid online concert in June. Considering such growth momentum, Big Hit would have considered now as the right time to go public.”
In 2019, BTS created 97% of Big Hit’s business a year ago, and 88% this year.
BTS has consistently broken records in their seven-year history. In August, its single Dynamite turned into the most saw YouTube video in 24 hours, storing up 101.1 million perspectives in a day.
The K-pop band likewise turned into the main Korean craftsmen to head the Billboard Hot 100 graph with that solitary, drawing acclaim from South Korea’s President Moon Jae-in, who said were composing “new chapter in K-pop history”.
What’s more, an online show held in June set another Guinness World record for the most seen music show live stream, with 756,000 fans joining from more than 100 nations.
The group is comprised of Kim Tae-hyung (known as V), Jung Ho-seok (J-Hope), Kim Nam-joon (RM), Kim Seok (Jin), Park Ji-min, Jeon Jung-crackpot and Min Yoon-gi (Suga).
They have attributed a lot of their prosperity to their faithful worldwide fan base, known as ARMY, who have helped make BTS the most tweeted-about music bunch from March to September this year.
“I believe the group will be in the limelight as long as they keep making good music. Even if a few of its members halt their career due to military service, the bandmates have already proven their solo prowess,” Ms Hong says.
“The scale of BTS’s fandom and the world-building empire tightly built around them are so powerful,” she includes.
Fans are currently eagerly anticipating the upcoming release of BE, BTS’ second album of the year, on 20 November.
Paulina Rice is a housewife as well as author. She’s the wife of a rock star, and the mother of two young adults, but she’s also been a ballerina, a typographer, a film composer, a piano player, a singer in an all-girl rock band, and a voice in those violent video games you won’t let your kids play. She does her best writing on entertainment such as movies.