The South Korean K-pop band BTS will likely hold multi-million shares. Each band member will have their shares individually. The shares will be received in their label. Big Hit Entertainment would be preparing an IPO (Initial Public Offering) raising about $811M (962.6 billion won).
The Recently released “Dynamite”, is their first-ever song that is completely English. This full English song has gained them the 1st place on the US Billboard which is the very first from Korea. K-pop fans in the US and other places are fairly impressed with this hit. They have over 290 million views and 16 million likes on YouTube already.
Soon to Be Multi-millionaire Shareholders
Last month, the seven-member band received 4,78,695 shares all together from the CEO of Big Hit Entertainment, Bang Si-Hyuk. Considering the shares obtained by individual members it is 68,385 shares each. Big Hit Entertainment’s Bang Si-Hyuk has the largest shares of the company.
Given that the Initial Public Offering shoots the top by October, the band would be getting shares of 64.6 billion won in all. Looking at the members’ independent shares, each member would receive shares of 9.23 billion won.
The South Korean company, in a regulatory filing, said that they offered shares to BTS in order to broaden and advance the association with the modern-day artists. They said that this will boost morale and their confederation with one of the major bands also strengthens.
eBEST Investment & Securities’ analyst said that the stocks have been gifted to the band members. Kim Hyun-Yong also said that this stock gifting could be comprehended as a venture to strengthen the bond between BTS and the label.
BTS Helping Stock Market Grow
Offering shares of about 7.1 million seems to have been planned by Big Hit Entertainment. The indicative price range for the shares is to be 1,05,000 to 1,35,000 won shares each.
KTB Investment and Securities’ analyst said that the liquidity in the stock market is great currently and the performance of the stocks could be well on the listing. As of the pandemic, there are no concerts which probably will impact negatively. The stock performance also depends on the results of Big Hit Entertainment.
What About When does the Band Go for Military Service?
As it is inescapable to join the military services for the men of South Korea, the BTS band members are anticipated to go for the same. The revenue streams would have to be variegated on the end of market concerns and the label has planned to address it.
If it happens that the band is not provided with any exoneration legally, Big Hit Entertainment is probably planning on setting up units with the band members. While the band serves the military of their nation, solo acts could also be sought.
Hope they continue this at any cause, for more updates related to BTS, Stay Tuned!