Kim Eun-hee hopes to purchase shares of Big Hit Entertainment, the music brand of the Korean boy group BTS, with an amount of over US$120,000, so as to complete his fan souvenir collection. This newly listed stock is now the hottest IPO in South Korea, and the heat may even shake the currency market.
Among the hardcore fans of BTS in South Korea, the enthusiasm for new stocks is constantly accumulating to ensure that their favorite boy group can hold at least a portion of the brand's shares.
51-year-old Kim Eun-hee is filled with BTS souvenirs in a BTS-themed cafe run by Seoul, ranging from the 47-inch wide photos of boy group members to toys designed by boy group members. She supports BTS by buying stocks. , This will increase my collection here."
Recently, with the new song "Dynamite", BTS became the first group in South Korea to top the singles chart of the Billboard Top 100 singles chart in the United States, which naturally led to the mainstream group. The scolding sounded.
South Korean retail investors (the so-called "ants") have been greedy for new stock listings because after the coronavirus crisis, the market is flooded with cash and the Korean government has introduced stimulus measures to boost the economy.
analysts predict that Big Hit will become the most popular IPO in South Korea. The Bank of Korea is paying close attention to this stock offering, because large-scale oversubscription of stocks may trigger a chain reaction in the short-term money market. Hwang Hyun-jun, analyst at
DB Financial Investment, said, “The total amount of funds raised by retail investors may reach 100 trillion won (85.23 billion US dollars), which is the biggest capital feast this year. The liquidity party is still going on, and the timing It couldn’t be better, because BTS has just reached the top of the bulletin board."
Ant Corps
Big Hit plans to raise 962.6 billion won (approximately US$825.9 million) through an IPO, which will be Korea’s largest IPO in three years.
issued approximately 7.1 million new shares this time, currently priced at 105,000 to 135,000 won per share. The final price may be announced early next week or late Friday afternoon.
But for Kim Eun-hee and other BTS fans, the valuation of the stock is not a big problem. Their BTS fans call themselves ARMY. Kim Eun-hee and four other fans who plan to participate in the stock sale said that due to the expected strong retail demand, even if they bid for tens of thousands of dollars in stocks, it is estimated that they will only buy one share in the end, but for them it may The result is also a kind of luck.
Korean ants have participated in IPO subscriptions time and time again.
In September of this year, Kakao Games’ listing attracted 580,000 retail investors, and the number of oversubscriptions was about 1,500 times the actual subscription number, a record high. According to data from the Korea Securities Depository (Korea Securities Depository),
, after the flood of bids from Kakao Games, as brokers put hundreds of billions of won in retail investors’ new pre-deposits into the currency market overnight, Interest rates fell to a three-month low of 0.38% on September 3.An official from the Bank of Korea stated that the bank is currently "monitoring the short-term money market because it is expected that there will be a large inflow of funds in the IPO market."
Big Hit’s IPO boom is also expected to make seven BTS members become multi-millionaires. CEO Fang Sihe gave each of them 68,385 shares in August.
don’t know much about valuation
Some fans of BTS plan to buy shares of Big Hit for themselves on the band members’ birthdays or other anniversaries.
"I can imagine myself buying a lot of stock on the idol's birthday." Alice Parker said she was referring to a member of the band. 28-year-old financial expert Park Zhengxi is applying for a personal loan of "hundreds of thousands of dollars" to bid for new shares of Big Hit.
fans buying record company stocks in large quantities is not new to the Kpop music industry.
According to Korean media reports, as early as 2008, a girl’s generation fan spent 22.5 million won to buy SM Entertainment’s stock and watched the stock price rise by 2700% in three years.
12-year-old Kim Seo-hyeon (transliteration) is a BTS fan in Seoul, and she asked her parents to buy a hand of BTS stock so she can see the boy group at the future shareholders meeting.
"I don’t understand stocks. I know my brothers (members of the BTS men’s team) are rich, but I hope that I can buy stocks to make them richer so that they can buy some nice clothes to wear. Makes me happy."
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