BTS to become multi-millionaires after label goes public

BTS perform at the MTV Video Music Awards on 31 August in New YorkSymbol copyright
Reuters

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BTS carry out on the MTV Video Tune Awards on 31 August in New York

All seven individuals of South Korean Okay-pop staff BTS are set to develop into multi-millionaires, when their label Large Hit Leisure is going public in October.

Hovering call for for stocks in Large Hit has given it a marketplace valuation of £three.2bn ($four.1bn), with stocks priced on the best of the predicted value vary.

Large Hit boss Bang Si-hyuk, who owns 43% of the control label, will develop into a billionaire.

In August, he gave each and every BTS member 68,385 stocks, price £6.2m in general.

Lately priced at between 105,000-135,000 received (£70.03-£88.70) in step with proportion, Large Hit expects to lift about £638.3m with the sale of seven.13 million new stocks when it’s indexed on Korea’s Inventory Change, the KOSPI, on 15 October.

BTS set a brand new document on Monday when it took simply hours for underwriters to search out traders to take a stake within the company when order books opened, with call for 1,000 instances upper than the to be had inventory.

In line with CNBC, die-hard BTS enthusiasts in South Korea are hoping to shop for no less than one proportion within the control label to improve their favorite individuals.

What’s much more putting is that that is South Korea’s greatest IPO in 3 years.

It is a signal that BTS’ reputation has no longer waned, regardless of the crowd being pressured to cancel their international excursion because of the coronavirus pandemic, and the chance that one of the individuals would possibly quickly must do two years of obligatory army carrier.

In 2019, BTS generated 97% of Large Hit’s gross sales ultimate 12 months, and 88% this 12 months.

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AFP

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BTS have set more than one data this summer season, together with topping the Billboard Scorching 100 chart with their unmarried Dynamite

BTS has many times damaged data of their seven-year historical past. In August, its unmarried Dynamite turned into probably the most seen YouTube video in 24 hours, collecting 101.1 million perspectives in an afternoon.

The Okay-pop band additionally turned into the primary Korean artists to best the Billboard Scorching 100 chart with that unmarried, drawing reward from South Korea’s President Moon Jae-in, who mentioned have been writing a “new bankruptcy in Okay-pop historical past”.

And a web based live performance held in June set every other Guinness International document for probably the most seen song live performance are living circulate, with 756,000 enthusiasts becoming a member of from over 100 nations.

The gang is made up of Kim Tae-hyung (referred to 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 lot in their good fortune to their dependable global fan base, referred to as ARMY, who’ve helped make BTS probably the most tweeted-about song staff from March to September this 12 months.

Enthusiasts are actually eagerly expecting the approaching free up of BE, BTS’ 2d album of the 12 months, on 20 November.

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