city Seoul Entertainment 2020 band Music city Seoul

Big Hit Entertainment Is Betting on BTS as It Launches IPO

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variety.com

Patrick Frater Asia Bureau ChiefGifting nearly 1.5% of Big Hit Entertainment’s pre-IPO shares to the seven members of BTS is looking like a win-win for all concerned as the company and the band remain invested in each other’s success.

But it does little to mitigate the notion that the Seoul-based firm is a one-act show.The company is poised to be valued as one of the largest entertainment concerns in Korea when its listing on the Kospi exchange is completed in a few days.

It is seeking to raise some $815 million of fresh cash through a sale of 21% of Big Hit, and launch with an implied valuation of $3.9 billion.

That is bigger than all three of Korea’s leading music-talent agencies (SM Entertainment, YG Entertainment and JYP Entertainment).

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