BTS label Big Hit Entertainment IPO has made all seven members of band multimillionaires

BTS band members have become multimillionaires after their label, Big Hit Entertainment, got South Korea’s biggest stock market listing in three years. The company is giving its shares at $115 each, Big Hit said in a filing on Monday, raising $822 million and valuing the organization at $4.1 billion. That makes the arrangement South Korea’s biggest stock offering since July 2017.

The organization is controlled by CEO Bang Si-Hyuk, a music producer who is known for making BTS and setting it on a course for fame in 2013. Bang claims about 43% of Big Hit. The IPO has made Bang a billionaire. Bang gave every one of the BTS band members 68,385 shares in August. Those possessions are currently worth almost $7.9 million each at the issue price. The shares begin trading on October 15.