Big Hit Entertainment’s initial public offering (IPO) is officially kicking off.

Big Hit Entertainment revealed that their registration statement was filed with the Financial Services Commission on September 2. Big Hit will be listing 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 S&P 500 of the United States.

The company is offering 7.13 million stocks at a price range of 105,000 won (approximately $88) through 135,000 won (approximately $114). This calculates to an estimated sum between 748.7 billion won (approximately $630.7 million) and 962.6 billion won (approximately $811 million). Their estimated market capitalization amounts to a number between 3.55 trillion won (approximately $2.99 billion) and 4.57 trillion won (approximately $3.85 billion).

Big Hit Entertainment will undertake the book building process on September 24 and 25 with institutional investors from within the country and abroad. On October 5 and 6, they will take general subscriptions and are likely to wrap up the IPO process that month. Big Hit Entertainment’s lead underwriters are NH Investment and Securities, Korea Investment and Securities, and JP Morgan, and Mirae Asset Daewoo is a joint advisor.

Source (1)

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