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BTS agency Big Hit applies for preliminary review for listing

South Korean music label Big Hit Entertainment’s crown jewel BTS (Big Hit Entertainment)
South Korean music label Big Hit Entertainment’s crown jewel BTS (Big Hit Entertainment)

Big Hit Entertainment, the management agency of K-pop mega group BTS, has filed for a preliminary review to be listed, the bourse operator here said Thursday.

NH Investment & Securities, Korea Investment & Securities and JP Morgan will handle the offer, according to the Korea Exchange (KRX).

Big Hit, established in 2005, manages K-pop singers BTS, Tomorrow X Together and Lee Hyun.

Founder and co-CEO Bang Si-hyuk currently holds a 45.1 percent stake in the label.

In 2019, Big Hit logged revenue of 587.2 billion won ($473.5 million) and a net profit of 72.4 billion won.

The company's operating profit reached 98.7 billion won, bigger than the combined operating profit of the top three K-pop agencies -- SM Entertainment, JYP Entertainment and YG Entertainment.

The KRX conducts preliminary reviews within 45 working days upon receiving a submission.

Companies submit an application to be listed within six months after receiving the preliminary review result.

Big Hit, whose value is estimated at least 2 trillion won, is widely expected to wrap up its listing this year unless issues emerge. (Yonhap)

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