Bang Shi Hyuk has decided to forego some of his stock to the BTS members before Big Hit Entertainment goes public.
Big Hit Entertainment is finally on the final stages of going public, with the IPO process being reported on September 2nd with goals of entering KOSPI (Korea Composite Stock Price Index) on the 10th. According to the report, Bang Shi Hyuk handed over 68,385 shares of stock to each of the seven BTS members.
Big Hit Entertainment is hoping for their price per share to be marked at 105,000-135,000 KRW. If each share is marked at 135,000 KRW, it would mean that each member would be holding 9,231,970,000 KRW in Big Hit Entertainment stocks for a total of 64,623,820,000 KRW for all 7. Experts are predicting that it would have been hard for Big Hit Entertainment to issue stocks to match BTS' value, so Bang Shi Hyuk stepped in to hand over a portion of his own stocks.
After the transfer, BTS would be holding 1.41% of the company's stocks. Bang Shi Hyuk holds 12,377,337 shares of stock (43.44%), meaning if each stock is priced at 135,000 KRW, he would be holding 1,670,900,000,000 KRW, putting him at the #1 place in terms of entertainment stockholders (ahead of others such as SM Entertainment's Lee Soo Man or JYP Entertainment's Park Jin Young).
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I'm glad they are getting some of the stocks. They have worked very hard for almost a decade. I also appreciate that BTS gives a lot of money to charitable causes and important issues. No use in having all that money if you can't do something good with it!
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