Big Hit Entertainment has handed the preliminary screening for its deliberate preliminary public providing (IPO).
The company has been accepted for itemizing on the Korea Composite Inventory Value Index (KOSPI). KOSPI is the index of all frequent shares traded on the Inventory Market Division of the Korea Alternate. It’s the consultant inventory market index of South Korea and is taken into account the equal of the USA’ S&P 500.
Based on the Korea Alternate (KRX), Big Hit obtained the outcomes of their itemizing eligibility from the preliminary screening on August 7. If every little thing goes as deliberate, it seems that they are going to be listed on the inventory market within the latter half of the yr.
Based on the KOSPI itemizing guidelines, from the day Big Hit obtained the discover of their preliminary outcomes, they have to submit an software for a brand new itemizing inside six months and start their registry course of. They are going to be managed by NH Funding and Securities, Korea Funding and Securities, and JP Morgan. Korea’s largest funding banking and inventory brokerage firm Mirae Asset Daewoo may also function their joint advisor.
Big Hit Entertainment was first based in February 2005 by producer Bang Si Hyuk and now homes BTS, Lee Hyun, and TXT. As of the day Big Hit submitted their preliminary software, Bang Si Hyuk holds 43.four % of the corporate’s shares.
Previously yr, Big Hit has acquired recreation firm Excellent and companies Supply Music and Pledis Entertainment, which home artists GFRIEND, SEVENTEEN, NU’EST, and extra.
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