Big Hit Entertainment Finalizes Public Offering Price For Stock Market
On September 28, Big Hit Entertainment revealed that the public offering price (POP) for their stocks was finalized to be at 135,000 won (approximately $115).
Earlier this month, Big Hit Entertainment filed to go public on the stock market. The decision of the POP was made based on the results of the book building process, which took place on September 24 and 25 with domestic and foreign institutional investors. As it is the uppermost value from the price range of 105,000 won (approximately $89) through 135,000 won that was suggested by Big Hit, the total amount is 962.6 billion won (approximately $820 million).
In the book building process that took place with the 4.278 million shares, which is 60 percent of the total public offering, 1,420 organizations participated, recording a competition ratio of 1,117.25 to 1.
Big Hit Entertainment will take subscriptions from general investors on October 5 and 6. General investors will be able to request subscriptions from the lead underwriters NH Investment and Securities and Korea Investment and Securities, as well as the joint advisor Mirae Asset Daewoo and its subsidiary Kiwoom Securities.
Big Hit Entertainment’s representative group BTS will be releasing a new album on November 20, and Big Hit Entertainment and CJ ENM’s joint venture BELIF+ will be debuting the new boy group ENHYPEN this year.