The next music company to go public is set to be K-Pop firm Big Hit Entertainment. Now we know how much its IPO is set to value the company at, after pricing was announced.
Shares will cost 135k won ($115) each in an offering that according to Billboard will value Big Hit at 4.8tn won ($4.1bn).
That means each member of Big Hit’s biggest artist, BTS, will be a multi-millionaire from the IPO alone, having been recently granted just over 68k shares each.
BTS and other artists have fuelled sharp revenue growth for Big Hit in recent years. In 2019, the company generated $507.9m in revenue, up 95% year-on-year.
Despite the Covid-19 pandemic, 2020 is looking good for further growth, not least because BTS are about to release their second album of the year.