Each BTS Member Just Made $10 Million USD In 30 Minutes Thanks To Big Hit Massive Stock Price Increase
BTS‘s members have just gotten a whole lot richer!
Each of BTS’s members have received 68,385 Big Hit Entertainment shares that were priced at ₩135,000 KRW ($113 USD) when the agency’s initial public offering (IPO) opened today. However, the moment the stock bell rang to start trading, the prices opened at ₩270,000 KRW ($235 USD) per share, and immediately jumped to ₩335,000 KRW ($292 USD).
However, the price has decreased a bit since, ₩300,000 KRW per share. This means that each BTS member’s stock worth is now at ₩20.5 billion KRW, which is worth a massive $18 million USD!
During the IPO fund raising process, Big Hit Entertainment raised ₩58.4 trillion KRW ($50.6 billion USD), nearly the same as Kakao Games (₩58.5 trillion KRW) and more than SK Biopharm (₩30.9 trillion KRW). The competition to obtain just one share of Big Hit Entertainment stock was huge, with share request to distribution ratios ranging from 564.69:1 to 663.48:1, depending on the asset company.
Founder and Co-CEO Bang Si Hyuk is the largest shareholder in Big Hit Entertainment, owning 43.44% of the company, followed by Netmarble (25%). Given Bang Si Hyuk’s 12,377,337 shares, he has made over $1.78 trillion USD so far!