Brokerage house picked for entertainment company
NH Investment & Securities will help Big Hit Entertainment, which manages K-pop superstar BTS, go public this year along with three other investment banks both at home and abroad.
Sources in the investment banking industry said this week that the Seoul-based brokerage will work together with JPMorgan and Korea Investment & Securities for the high-profile initial public offering (IPO).
Mirae Asset will also work as a joint manager.
The IPO of Big Hit is expected to be one of the largest in the country’s show biz industry as the label’s valuation is expected to reach almost 5 trillion won ($4 billion).
Bang Si-hyuk founded the entertainment company in 2005 to have a 43.06 percent stake. Domestic online game publisher Netmarble is the No. 2 shareholder with 25.55 percent.
Bit Hit debuted BTS in 2913 and managed the seven-member vocal group to become the world’s largest boy band.
The septet has just released its comeback album “Map of the Soul: 7.” Based on songs of its fourth studio album, it plans to start a global tour in April.
NH Securities was launched in 2006 when Sejong Securities was incorporated into the National Agricultural Cooperate Federation, otherwise known as Nonghyup.
Currently, CEO Jeong Young-chae heads the outfit, whose largest shareholder is NH Financial Group. Its stake is 76.09 percent.