BTS Are Now Shareholders For Their Agency, Big Hit Entertainment
BTS‘s members have just gotten a whole lot richer!
Each of BTS’s members have received 68,385 Big Hit Entertainment shares that will be priced up to 135,000 won ($113 USD) when the agency’s initial public offering (IPO) happens later this year. This amounts to, at minimum, $7.7 million for each member, nearly doubling their reported net worth of $8 million for 2019.
When Big Hit Entertainment goes public, the company plans to retain 1,426,000 shares, meaning that BTS will have 33.5% of Big Hit Entertainment’s portion, and 6.7% of the total 7,130,000 shares.
Bloomberg reports that Big Hit Entertainment is looking to raise as much as 962.6 billion won ($812 million USD) with their IPO, with new shares priced from 105,000 won ($88 USD) to 135,000 won ($113 USD) each. Founder and Co-CEO Bang Si Hyuk is the largest shareholder, owning 43.44% of the company, followed by Netmarble (25%).