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 Song Awards on 31 August in New York

All seven participants of South Korean Okay-pop workforce BTS are set to turn 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 most sensible of the predicted worth vary.

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

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

These days priced at between 105,000-135,000 gained (£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 report on Monday when it took simply hours for underwriters to seek out buyers to take a stake within the company when order books opened, with call for 1,000 occasions upper than the to be had inventory.

In keeping with CNBC, die-hard BTS enthusiasts in South Korea are hoping to shop for a minimum of one proportion within the control label to fortify their favorite participants.

What’s much more hanging is that that is South Korea’s biggest IPO in 3 years.

It is a signal that BTS’ reputation has no longer waned, in spite of the gang being compelled to cancel their global excursion because of the coronavirus pandemic, and the chance that one of the vital participants would possibly quickly need to do two years of obligatory army provider.

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

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AFP

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BTS have set more than one information this summer time, together with topping the Billboard Sizzling 100 chart with their unmarried Dynamite

BTS has time and again damaged information of their seven-year historical past. In August, its unmarried Dynamite changed into probably the most seen YouTube video in 24 hours, gathering 101.1 million perspectives in an afternoon.

The Okay-pop band additionally changed into the primary Korean artists to most sensible the Billboard Sizzling 100 chart with that unmarried, drawing reward from South Korea’s President Moon Jae-in, who stated had been writing a “new bankruptcy in Okay-pop historical past”.

And an internet live performance held in June set every other Guinness Global report for probably the most seen tune live performance reside movement, with 756,000 enthusiasts becoming a member of from over 100 nations.

The crowd 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 unswerving global fan base, referred to as ARMY, who’ve helped make BTS probably the most tweeted-about tune workforce from March to September this 12 months.

Fanatics are actually eagerly looking ahead to the approaching unlock of BE, BTS’ 2nd album of the 12 months, on 20 November.

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