Big Hit’s stocks nearly doubled after their first public offering netted over $800 million. The powerful start was widely anticipated by analysts given that the massive fan base to the seven-member boy ring that’s been dominating Billboard charts. Its market value stood at roughly $7.5 billion from the end of trading.
Regardless of the concert-killing COVID-19 pandemic, Big Strike has prospered thanks to enormous demand because of its internet content, such as live-streamed BTS concerts that allegedly attracted over 1.7 million lovers.
The organization’s shares opened at 270,000 won ($236), roughly double their original public offering price. They jumped 30%, hitting on the daily trading limit, until falling back and final in 258,000 earned ($225), bringing the organization’s evaluation to 8.7 trillion won ($7.5 billion).
Big Hit includes a tight grip on its earnings flows, with BTS products and other goods exclusively sold via its”Reverse” e-commerce platform.
“The organization has managed to expand past the standard revenue sources of record sales and concerts and expand its business through internet channels,” composed Ahn Jin-ah, an analyst in South Korea’s E-Best Investment and Securities, in a report which described Big Strike’s stock exchange entry as a”fall of dynamite.”
BTS started in 2013 and also has a legion of international fans who call themselves the”Army.” It became the very first K-pop action to top Billboard’s Hot 100 chart a month with their initial all-English tune”Dynamite.”
The group — consisting of J-Hope, RM, Suga, Jungkook, V, Jin, and Jimin — has played in sold-out arenas across the globe and was invited to talk at the U.N. General Assembly a month.
BTS is a source of national pride, with some lawmakers even asserting that its members ought to be gleaned in the 2-year army service that’s compulsory for many able-bodied men, stating the listeners have done much for the nation.
Unlike several other K-pop musicians whose carefully cultivated pictures are shaped by their management bureaus, BTS members actively participate with their lovers through social networking and frequently compose their lyrics. That personal touch is a massive portion of the allure, music specialists say.
BTS lovers who seemingly follow anything and everything about the group took an interest in Big Strike’s stock exchange debut.
Sara Ali, a BTS enthusiast from Sudan, stated she was speaking with fellow Army members about Big Strike’s business prospects and has been expecting to purchase a few shares himself.
“I feel this is an exceptional chance,” she said via a text message.
The organization’s shares started trading only days after early nationalists erupted in anger in BTS following its chief RM thanked Korean War veterans for their sacrifices while still getting a reward for boosting U.S.-South Korea relations.
BTS has to react to the remarks.