“Gross bids from retail investors could hit 100 trillion won , it’s the biggest fish of the year,” said Hwang Hyun-jun, an analyst at DB Financial Investment.Big Hit is looking to raise as much as 962.6 billion won in the IPO that is set to be South Korea’s largest in three years.
Following the flood of orders for Kakao Games’ IPO, the overnight repo rate dipped to a three-month low of 0.38 per cent on Sept 3 as brokerages placed hundreds of billions of won in preorder deposits from retail bidders into the market, data from the Korea Securities Depository shows. The Big Hit listing is also expected to make the seven BTS members multimillionaires, as CEO Bang Si-hyuk in August gave them 68,385 shares each.
“I can see myself buying one on V’s birthday,” said Alice Park, referring to one of the band members. The 28-year-old banker is taking out a personal loan of “a couple of hundred grand” to make a bid.Local media has reported that back in 2008, a fan of girl group Girls’ Generation bought shares in its label SM Entertainment for 22.5 million won and watched them rise more than 2,700 per cent in three years.
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