SEOUL, South Korea — Large Strike Entertainment, the entertainment business that oversees the K-pop feeling BTS, starts trading its shares in South Korea’s stock exchange on Thursday.
The first public offering of Huge Strike Entertainment for folks took place a week. The organization’s potential and also the current victory of BTS on the planet pop music scene resulted in significant public attention, even among people that aren’t always supporters of the pop band.
“I am not a BTS enthusiast, but watched the Big Hit Entertainment IPO as an investment opportunity,” Kwon Chanyoung, a high school instructor who set a bid to its IPO last week, told ABC News. “My husband and I had been convinced that the organization’s stocks will soar up following introduction on the current market, contemplating BTS’ recent victory in the album market both in Korea and overseas.”
On the other hand, the IPO offering price wasn’t cheap for many BTS fans.
South Korean retailers ponied around $50 billion since they sought to put their hands on stocks in Huge Hit Entertainment, over 600 times the worth of stocks on offer, according to Reuters.
The group, supported by a huge international fan base, has just achieved its first No.1 to the U.S. Billboard Hot 100 singles chart with a South Korean team together with the tune”Dynamite,” Reuters reported.
Offering roughly 20 percent of the business in its IPO,” Big Strike Entertainment, directed by CEO Bang Si-hyuk, has increased a few 962.6 billion won ($830 million). At the institutional section of the deal, investors expressed interest in over 1,000 times the amount of shares on offer, based on Reuters’ report.