K-Pop group BTS' label Big Hit Entertainment files review for IPO -bourse (updated)

Netmarble

28/05/2020 09:40

(Adds detail)
    SEOUL, May 28 (Reuters) - Big Hit Entertainment, the
management label of South Korean K-Pop group BTS, has filed for
a preliminary review of a planned initial public offering, the
Korea Exchange said on Thursday. 
    JPMorgan  JPM.N , NH Investment & Securities and Korea
Investment & Securities are the underwriters for the offering,
the exchange said in a statement. 
    Founded in 2005, the South Korean talent agency behind
global sensation BTS has helped the South Korean superstar boy
band score megahits globally and sell out U.S. stadiums. 
    Founder Bang Si-hyuk held the biggest stake of 45.1% in Big
Hit Entertainment as of the end of 2019, followed by gaming
company Netmarble Corp's  251270.KS  25.1%, according to a
regulatory filing by the music label. 
    In 2019, Big Hit reported an operating profit of 98.7
billion won. 
    



 (Reporting by Heekyong Yang and Joyce Lee; editing by Jason
Neely)
 ((Heekyong.Yang@thomsonreuters.com; +82 2 6936 1470;))