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.