Actor Joo Ji Hoon's ~$300,000 investment in his own label turns into ~$4.4 million after a merger

Actor Joo Ji Hoon has hit the jackpot by investing in his own label.

According to South Korea's Financial Supervisory Service on December 7 KST, content production company BLITZWAY will soon acquire H& Entertainment, a management agency that is home to Joo Ji Hoon, Jung Ryeo Won, Chun Woo Hee, Yoon Park, Krystal Jung, Kwak Dong Yeon, and more. 

The merger and acquisition was publicized last month on November 22, and a shareholders' meeting to approve the acquisition will be held on January 10. 

Joo Ji Hoon is the single largest shareholder of H& Entertainment, holding 34.6% of the company's total shares. The CEO, Hong Min Ki, holds 18.0%, being the second largest shareholder. 

BLITZWAY has determined H& Entertainment's company value at 14,400,000,000 KRW (~ $10.88 million USD), or a ratio of 1 : 6.4807788. This means that with the merger, BLITZWAY will issue 6.4807788 new shares for 1 share held by each shareholder of H&. Joo Ji Hoon will thus acquire 5.81% of BLITZWAY's shares, or 5,800,000,000 KRW (~ $4.4 million USD)

At the time of its founding in June of 2020, H& Entertainment owned 1,100,000,000 KRW in total shares. It is estimated that Joo Ji Hoon invested approximately 400,000,000 KRW (~ $300,000 USD), becoming a major shareholder. 

Now, after just 3 years, Joo Ji Hoon's investment has returned him 5,800,000,000 KRW (~ $4.4 million USD). 

Meanwhile, Joo Ji Hoon most recently starred in the action film 'Ransomed', which premiered in August.