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Big Hit’s IPO price set at 135,000 wonBy Jie Ye-eun
Published : Sept. 28, 2020 - 15:07
The offering price of shares of Big Hit Entertainement, the local agency behind K-pop sensation BTS, was fixed at 135,000 won ($115) per share, the top end of its indicative price range, the company said in a regulatory filing Monday.
At the two-day book building that wrapped up on Friday, a total of 1,420 domestic and foreign institutional investors participated in the tranche and bidding for some 4.27 million shares, 60 percent of the total. Competition among institutional investors for stocks marked 1,117:1.
The oversubscribing figure was higher than SK Biopharmaceuticals, which reached 835:1, but lower than Kakao Games’ result that came to 1,479:1.
Ahead of its market debut on the nation’s main bourse Kospi on Oct. 15, public subscriptions will be accepted Oct. 5-6.
While NH Investment & Securities, Korea Investment & Securities and JP Morgan are serving as the lead underwriters of the IPO, Mirae Asset Daewoo and Kiwoom Securities are participating as members of the underwriter group.
By Jie Ye-eun (email@example.com)
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