Bit Hit Entertainment Off to Bumpy Start on Bourse

  • Arirang News

    October 16, 2020 08:33

    The talent mill behind super boy band Bangtan Boys, also known as BTS, made a bumpy debut in Korea's stock market on Thursday.

    Big Hit Entertainment's stock price soared straight after the opening bell to reach around W351,000, hitting the daily maximum increase of 30 percent (US$1=W1,149).

    But then it went on a downward spiral to close at W258,000. That was still almost double the subscription price of W135,000 but down 4.4 percent from the starting price of W270,000.

    Bang Si-hyuk, CEO of Big Hit Entertainment, hits a drum at the Korea Exchange in Seoul on Thursday to celebrate the company's debut in Korea's stock market.

    Based on the closing price on Thursday, the firm's total market capitalization is about W3.19 trillion, and all four members of BTS were given stock options that made them instant billionaires.

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