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 Ok-pop workforce BTS are set to grow to be 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 anticipated value vary.

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

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

Recently priced at between 105,000-135,000 received (£70.03-£88.70) in line with proportion, Large Hit expects to boost about £638.3m with the sale of seven.13 million new stocks when it’s indexed on Korea’s Inventory Trade, 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 a minimum of one proportion within the control label to enhance 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’ recognition has now not waned, regardless of the gang being compelled to cancel their international excursion because of the coronavirus pandemic, and the danger that probably the most 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 yr, and 88% this yr.

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AFP

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BTS have set more than one data this summer time, together with topping the Billboard Sizzling 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 essentially the most seen YouTube video in 24 hours, collecting 101.1 million perspectives in an afternoon.

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

And a web based live performance held in June set some other Guinness International document for essentially the most seen tune live performance are living move, with 756,000 enthusiasts becoming a member of from over 100 international locations.

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 essentially the most tweeted-about tune workforce from March to September this yr.

Enthusiasts are actually eagerly looking ahead to the impending unencumber of BE, BTS’ 2d album of the yr, on 20 November.

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