Patrick Frater Asia Bureau ChiefGifting nearly 1.5% of Big Hit Entertainment’s pre-IPO shares to the seven members of BTS is looking like a win-win for all concerned as the company and the band remain invested in each other’s success.
But it does little to mitigate the notion that the Seoul-based firm is a one-act show.The company is poised to be valued as one of the largest entertainment concerns in Korea when its listing on the Kospi exchange is completed in a few days.
It is seeking to raise some $815 million of fresh cash through a sale of 21% of Big Hit, and launch with an implied valuation of $3.9 billion.
That is bigger than all three of Korea’s leading music-talent agencies (SM Entertainment, YG Entertainment and JYP Entertainment).
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