Big Hit Labels Confirms Initial Public Offering Price At Top Of Its Range
Ever since Big Hit Entertainment announced that they would be launching their IPO (initial public offering), fans all over the world have been more than interested in stocks.
The good thing is that anyone can invest in the company regardless of age and location!
Previously, the company revealed that they would announce the final pricing on September 28 and that there is no minimum requirement in buying shares.
According to Business Times, “Big Hit Entertainment priced its initial public offering at top of its range on Monday, in South Korea’s largest listing in three years.”
Many investors had stated that there would be a huge demand for shares, especially after BTS became the first South Korean group to reach No.1 on the Billboard Hot 100 chart with “Dynamite.”
The official price for Big Hit Entertainment will be 135,000 won ($~115.07 USD) per share. This price comes in at the top of an indicative price range of 105,000-135,000 won tat was announced earlier this month.
It will raise 962.6 billion won through the offer of 7.13 million new shares. It is the biggest South Korean IPO since Celltrion HealthCare raised one trillion won in 2017.
— Business Times
They will be offering 4,278,000 stocks, which is 60% of their total stock holdings.
The first offering to the public will start on October 5 and 6 so if you’ve been waiting to invest, here is your chance!