On May 27, the Korean Exchange revealed that Big Hit Entertainment officially filed for an IPO. The Korean Exchange statement didn't reveal the size and scope of the initial public offering nor give a timeline. However, it has been rumored that Big Hit Entertainment hopes to raise around 1 Billion USD through the IPO.
Home to groups such as BTS and TXT, the label been rumored to go public since 2017, and most recently, the company has been acquiring entertainment companies such as Pledis along with restructuring their executives. BTS's global success has led the way for Big Hit Entertainment to grow from a small company with a few employees into a powerhouse with huge revenues.
Founder and chairman Bang Si Hyuk is said to own 45.1% of the equity in Big Hit Entertainment. NH Investment & Securities, Korea Investment & Securities, and JP Morgan are the underwriters for the IPO.
Stay tuned for more news regarding Big Hit Entertainment's IPO.