Big Hit, Owner of 'BTS', Selects NH, KTB, and JP Morgan as Lead Underwriters for IPO

Increased Chances of Listing This Year... IPO Market's 'Biggest Catch' Anticipated

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] Big Hit Entertainment, the agency of the idol group BTS, considered one of the biggest IPO candidates this year, has selected its lead underwriters for the listing.

According to the investment banking (IB) industry on the 25th, Big Hit Entertainment chose NH Investment & Securities, Korea Investment & Securities, and JP Morgan as the lead underwriters for the listing. Mirae Asset Daewoo was appointed as a co-manager. Since the underwriting team has been formed since the beginning of the year, there is a prospect that the listing could take place as early as this year.

Founded in 2005, Big Hit Entertainment achieved strong performance last year, thanks to the global popularity of BTS. On the 5th, Big Hit Entertainment announced preliminary results showing sales of 587.9 billion KRW and operating profit of 97.5 billion KRW for the previous year. This is expected to exceed the combined operating profit forecasts of the three major agencies: YG Entertainment, SM Entertainment, and JYP Entertainment. Currently, Big Hit's corporate value is estimated to be between 2 trillion and 4 trillion KRW.

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