To Buy Big Hit Shares, Retail Investors Raise Up To US $ 50 Billion

ILLUSTRATION. BTS from Big Hit Entertainment, the most popular K-Pop group talked about on Twitter.

KONTAN.CO.ID – SEOUL (Reuters). South Korean retail investors raised more than US $ 50 billion to acquire shares in Big Hit Entertainment. The shares of the K-Pop label manager, BTS, are trading at a price of 600 times the value of their shares.

The combined retail funds amounted to 58.4 trillion won, equivalent to US $ 50.3 billion, slightly lower than the previous record collection of 58.55 trillion won. That is the value of the retail investors’ gathering who participated in the Kakao Games stock listing last September.

Most of the bids for Big Hit’s stock, priced at 135,000 per share, came late on the second of the two-day orders for individual investors.

Also Read: How to buy a major stake in Big Hit Entertainment, a BTS agency

“I waited until 2pm to subscribe because I wanted to choose a regulator with less competition for bids,” said Oh Sang-min, a 32-year-old retail worker who made a 100 million won bid after taking out a loan.

He was told by his cash management manager that he could only take two shares.

There is some concern that incoming funds from retail investors could affect short-term money markets as the funds will be at the middleman’s disposal for three days, before investors who don’t get shares get their money back.

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