Big Hit Entertainment Debuts On Stock Market At Double Their IPO (Initial Price Offering)
Home to BTS, TXT and many more legendary kpop stars, Agency Big Hit Entertainment shared it impressive debut on the stock market!
On October 15 , Big Hit Entertainment was officially listed on the Korea Composite Stock Price index (KOSPI), the index of all common stocks traded on the Stock Market Division of the Korea Exchange and the equivalent of the United States’ S&P 500.
The opening bell rang at 9 a.m. KST, and shares of Big Hit Entertainment stock debuted at 270,000 won (approximately $235); and that is double the initial price offering (IPO) which was at 135,000 won (approximately $118).
45 minutes later, at 9.45 a.m. KST, the shares were trading at an even higher price. As at that time, it stood for 300,500 won (approximately $262).
Founder of Big Hit Entertainment and CEO Bang Si Hyuk commented, “Thank you to all of the people who gave their unsparing support and help to Big Hit and made it possible for us to go public today. Thank you to all of the fans who trust and love Big Hit’s artists and content; to our artists, who make us proud; and to all of the staff as well. It is all of you who made this day possible.”
“Big Hit, which celebrated its 15th anniversary this year, began as a small entertainment company that aimed to provide comfort and touch people’s hearts through music and its artists, but it is now a global enterprise,” Bang Si Hyuk continued. “As Big Hit is now a publicly traded company, we will take deep responsibility for each and every shareholder and, from a wide variety of angles, do our utmost to increase shareholder value. We will work hard to create a company that receives love worldwide.”