BTS agency Big Hit applies for preliminary review for listing

May 28, 2020

BTS agency Big Hit applies for preliminary review for listing

Seoul (South Korea), May 28: Big Hit Entertainment, the management agency of K-pop mega group BTS, has filed for a preliminary review to be listed, the bourse operator here said Thursday.
NH Investment & Securities, Korea Investment & Securities and JP Morgan will handle the offer, according to the Korea Exchange (KRX).
Big Hit, established in 2005, manages K-pop singers BTS, Tomorrow X Together and Lee Hyun.
Founder and co-CEO Bang Si-hyuk currently holds a 45.1 percent stake in the label.
In 2019, Big Hit logged revenue of 587.2 billion won (US$473.5 million) and a net profit of 72.4 billion won.
The company's operating profit reached 98.7 billion won, bigger than the combined operating profit of the top three K-pop agencies - SM Entertainment, JYP Entertainment and YG Entertainment.
The KRX conducts preliminary reviews within 45 working days upon receiving a submission.
Companies submit an application to be listed within six months after receiving the preliminary review result.
Big Hit, whose value is estimated at least 2 trillion won, is widely expected to wrap up its listing this year unless issues emerge.
Source: Yonhap News Agency