Big Hit kicks off IPO as BTS single 'Dynamite' blows up Billboard
Ye-jin Jun
Sep 02, 2020 (Gmt+09:00)
South Korean entertainment company Big Hit Entertainment Co. is expected to raise up to 1 trillion won ($842 million) in its upcoming public offering, boasting the highest Korean IPO price tag of the second half of the year.
The company kicked off the IPO process submitting a statement of registration to the Financial Services Commission (FSC) on September 2. Big Hit's market cap is estimated to reach 3.7 to 4.8 trillion won ($3.1 to $4 billion) upon listing. If the offering price is fixed at the higher end of the price band then it will propel Big Hit to land between 50th and 60th place on the country's main bourse KOSPI.
Bookbuilding for institutional investors will be held in mid-September alongside a non-contact overseas deal roadshow. Public subscriptions will be held at the end of September. The company is aiming to make its trading debut on the KOSPI in October.