Big Hit’s offering price fixed at 135,000 won
The offering price of shares of Big Hit Entertainement, a local agency behind K-pop sensation BTS, was fixed at 135,000 won ($115.04) per share, the top end of its indicative price range, the company said in a regulatory filing on Sept. 28.
At the two-day book building which wrapped up on Friday, a total of 1,420 domestic and foreign institutional investors participated in the tranche and bid for some 4.27 million shares, 60 percent of the total. Competition among institutional investors for stocks, marked 1,117:1.
BTS (Big Hit Entertainment)
The oversubscribing figure was higher than SK Biopharmaceuticals, which reached 835:1, but lower than Kakao Games’ result that stood at 1,479:1.
Public subscriptions will be accepted Oct. 5-6 with NH Investment & Securities, Korea Investment & Securities and JP Morgan serving as the lead underwriters of the IPO. Mirae Asset Daewoo and Kiwoom Securities are also participating as members of the underwriter group.
By Jie Ye-eun (firstname.lastname@example.org)