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BTS agency Big Hit applies for preliminary review for listing

K-pop 18:50 May 28, 2020

SEOUL, May 28 (Yonhap) -- Big Hit Entertainment, the management agency of K-pop mega group BTS, has filed for a preliminary review to be listed, the bourse operator here said Thursday.

NH Investment & Securities, Korea Investment & Securities and JP Morgan will handle the offer, according to the Korea Exchange (KRX).

Big Hit, established in 2005, manages K-pop singers BTS, Tomorrow X Together and Lee Hyun.

Founder and co-CEO Bang Si-hyuk currently holds a 45.1 percent stake in the label.

In 2019, Big Hit logged revenue of 587.2 billion won (US$473.5 million) and a net profit of 72.4 billion won.

The company's operating profit reached 98.7 billion won, bigger than the combined operating profit of the top three K-pop agencies -- SM Entertainment, JYP Entertainment and YG Entertainment.

The KRX conducts preliminary reviews within 45 working days upon receiving a submission.

Companies submit an application to be listed within six months after receiving the preliminary review result.

Big Hit, whose value is estimated at least 2 trillion won, is widely expected to wrap up its listing this year unless issues emerge.

This file photo, provided by Big Hit Entertainment, shows K-pop group BTS. (PHOTO NOT FOR SALE) (Yonhap)

BTS’ agency Big Hit Entertainment prepares to go public


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