From the time when Big Hit Entertainment confirmed and declared that they would be starting their IPO (initial public offering), aficionados across the globe have been more than interested ever before in shares and stock market. Above all the best part is that anyone can invest in the company irrespective of their age and location.
Earlier, the organization had revealed that they would declare the final rates on September 28 and that there is no minimum requirement in purchasing shares. The official rate for Big Hit Entertainment will be 135,000 won ($~115.07 USD) per share. This price comes in at the top of an indicative price range of 105,000-135,000 won tat was announced previously this month.
According to a report in Business Times, “Big Hit Entertainment priced its initial public offering at top of its range on Monday, in South Korea’s largest listing in three years.” It further states, “It will raise 962.6 billion won through the offer of 7.13 million new shares. It is the biggest South Korean IPO since Celltrion HealthCare raised one trillion won in 2017.”
As per the sources several investors have revealed that there would be a massive demand for shares, especially after BTS became the first South Korean K-pop group to reach No.1 on the Billboard Hot 100 chart with “Dynamite” for two consecutive weeks.
They will be offering 60% of their total stock holdings that are 4,278,000 stocks. The initial offering to the public will begin on October 5 and 6.