YG to Enter the Public Stock Market KOSDAQ
YG has been making waves in Korea and in the rest of the world with collective video views on Youtube surpassing 400 million views. Also, 2010 sales were estimated at approximately 44.8 billion won / $44 million with around $10 million as net profit.
But for those YG are hitting their peak, fear not as this is but the beginning for them! Having completely dominated Korean charts, Big Bang went to Japan and once again dominated. 2NE1 will also be taking on the daunting task of a American debut, helped by Will.I.Am of the Black Eyed Peas who, well look at the sales figures for his solo music and with the Black Eyed Peas, that alone tells you that they have good help. But their current roster, which also includes Se7en, Psy, Gummy, and other talented artists, is also being added to with the contract signing of Superstar K2’s Kang Seung Yoon.
But that’s the exciting stuff the fans get to see, behind the scenes equally exciting things are happening and if you’re interested in YG as a company, this is news that will be much welcomed to you.
YG Entertainment will become the second Korean entertainment company to join the KOSDAQ (Korea Securities Dealers Automated Quotations,) which is a Korean equivalent of America’s NASDAQ. Before, the only entertainment company listed was the entertainment juggernaut SM Entertainment.They previously applied last year but had been turned down, but YG had not given up and with the recent explosion of international interest assisting, this time they were accepted.
For the first public offering, 35 billion won / $33 million, will be offered in increments of 24,600 – 28,800 won / $22 – $26 at a face value of 500 won.
Explaining why he agreed with this move, CEO and founder Yang Hyun-Seok said to OSEN, “I’ve had countless offers to sell shares of my company through a backdoor listing, but I pushed them all away. I have no intention whatsoever of making profit through the stock market. My reason to have YG Entertainment listed publicly is because I accepted the management’s advice to make YG a transparent and global company“.
A “global company.” That phrasing alone explains why this move is so exciting. Being only the second entertainment company to join the KOSDAQ, this will certainly put YG on the international map, which in turn could open many international opportunities. If you want an example, look at SM Entertainment and SM Town Paris. This could mean a stronger Hallyu wave and more international exposure for YG artists. So, let’s pray for all the YG artists coming to America or your country soon.