Bangtan Boys is a popular band from South Korea which is immensely popular throughout the world. The band consists of 7 members namely RM, Jin, Suga, J-Hope, Jimin, V, and Jungkook. The band members made millions of dollars as their company Big Hit Entertainment opened with double the IPO price.
The shares of the K pop agency Big Hit Entertainment Co. doubled on the first day of trading and boosted the fortunes of its billionaire founder. It also increased the wealth of the seven multimillionaire members of the BTS boy band that has billions of fan followers. Most of the money inflow in the company was from the pop sensation and it opened at 2,70,000 won (over INR 17 thousand), as reported by Bloomberg.
This set the value of the company at 9.6 trillion won (INR 5,87,5 crore) when its IPO price was 135,000 won per share last month. This implies that the stock rose around 30% in the early trade. This further implies that the Big Hit Entertainment is likely to be among the top 10 debuts on the South Korean stock market when the first-day closing prices are considered.
90% of Big Hit Entertainments’ revenue comes from the K-Pop band BTS which makes the band an integral part of the success story of the company. This also implies that the company is at risk because, in their country, male citizens between 18 and 28 require to serve in the military for two years. The BTS band members are nearing the upper age limit like Kim Seok jin is already 27 years of age.
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