Asia News, Mergers And Acquisitions, Wealth, Entertainment, South Korea

Asia News, Mergers And Acquisitions

Listing of BTS' label may help 'turn around' South Korea's lackluster IPO landscape

Listing of BTS' label may help 'turn around' South Korea's lackluster IPO landscape

9/29/2020 9:53:00 AM

Listing of BTS' label may help 'turn around' South Korea 's lackluster IPO landscape

Dealogic's Romaine Jackson says the highly anticipated market debut of Big Hit Entertainment , the music label behind South Korea n K-pop megastars BTS, will shift South Korea 's public listing landscape.

2:52 AM EDT@EustanceHuangKey PointsThe highly anticipated market debut of Big Hit Entertainment, the music label behind South Korean boyband BTS, will shift South Korea's public listing landscape away from traditional sectors, Dealogic's Romaine Jackson says.

Blackpink Dish on Collaborating With Cardi B, Perform 'Lovesick Girls' on ‘Kimmel’: Watch Perovskites are set to transform solar power Trump admin has known for weeks Iran, Russia hacked local governments

On Monday, Big Hit Entertainment priced its stock at 135,000 South Korean won (approx. $115) per piece — the top end of the range earlier announced.Jackson said the excitement surrounding the listing of BTS' label has "brought a lot of fanfare and attention" to South Korea's IPO market, which had been "asleep" so far this year.

BTS attend the Billboard Music Awards at MGM Grand Garden Arena on May 01, 2019 in Las Vegas, Nevada.Frazer Harrison | Getty Images Entertainment | Getty ImagesSINGAPORE — The highly anticipated market debut of Big Hit Entertainment, the music label behind South Korean K-pop megastars BTS, will shift South Korea's public listing landscape away from traditional sectors, said Dealogic

"Big Hit's IPO (initial public listing), it does bring some much needed diversity to the South Korean IPO landscape," Romaine Jackson, head of Southeast Asia at Dealogic, told CNBC's "Squawk Box Asia" on Tuesday."It's traditionally been your technology names ... your health-care names," Jackson said. "To see some diversity coming to that sector mix, is very interesting ... for the South Korean IPO market."

On Monday,at 135,000 South Korean won (approx. $115) per piece — the top end of the 105,000-135,000 won per share range earlier announced.South Korea's IPO market waking upJackson said the excitement surrounding the listing of the boy band's management label has "brought a lot of fanfare and attention" to South Korea's IPO market, which had been "asleep" so far this year.

According to Dealogic, listing volumes in South Korea were down "roughly 20%" before Big Hit priced, he said.The upcoming IPO has "really helped to turn around" the trend seen in South Korean public listings, Jackson said. Prior to the deal, he added, South Korean listings were at a six-year low, despite the presence of significant liquidity in the market.

'Extremely vibrant' global IPO sceneBeyond South Korea, the global IPO market is "extremely vibrant," Jackson said, citing Dealogic figures."What we're seeing is a really a hot, steaming IPO market," he said. "Deals are also providing very strong returns and what we're seeing ... is a very strong and building pipeline."

Donald Trump Behaved in the Second Debate, Which Gave Joe Biden the Chance to Destroy Him Analysis: Trump dials back his anger, but his debate performance doesn't change the facts Julián Castro: Latino voters 'are in the driver's seat like never before'

In September so far, Jackson said there have been more than $40.3 billion in global listings — "one of the largest months on record," he said.And Asia hasn't been left out, with new listings in the region excludingJapan "up significantly" as well.

"Just last week, we saw $8.5 billion across Asia ex-Japan in new equity fundraising," Jackson said, adding that the week before saw almost $7 billion dollars."Companies are definitely capital thirsty right now and they're out there satisfying that thirst in the equity markets," he said.

Read more: CNBC »

Amy Coney Barrett live updates: Day 2 of Senate confirmation hearings

The high-stakes confirmation hearings for Judge Amy Coney Barrett, President Donald Trump’s Supreme Court nominee, continue Tuesday in the Senate Judiciary Committee.

North Korea accuses South Korea of illegally crossing boundaryNorth Korea accused South Korea of sending ships across the disputed sea boundary to find the body of a South Korea n official recently killed by North Korean troops, warning Sunday the intrusion could escalate tensions Yawn It is Monday Fake news

North Korea warns of naval tensions during search for slain South KoreanNorth Korea said on Sunday it is searching for the body of a South Korea n official killed by its troops, but warned that South Korea n naval operations in the area threatened to raise tensions by intruding across a disputed sea border. more than killing someone? Wow, that is so sad.

How South Korea has eliminated coronavirus risk from foreign travelersSally Shin, executive editor of the NBC News business and tech unit, describes a meticulous system that misses no detail. sallyshin I AM JESUS ​​CHRIST AND I DO NOT SUPPORT RACISM !! DONALD TRUMP IS THE OLD SERPENT 'THE DRAGON' 'THE DEVIL'. I WILL DEFEND AFRO-AMERICANS !! I came to step on the serpent's head. TRUMP DEVIL sallyshin You were kept safe, as were your parents. I would gladly go through these measures for that peace of mind. sallyshin Hey trump PARTNER! Did you enjoy your half of 4.7 million? Was it worth getting this pos elected? Cover this damn story!! TrumpTaxCheat

South Korea reports lowest coronavirus cases since new wave of outbreaks last month South Korea on Monday reported 50 new coronavirus cases, the lowest since a new wave of outbreaks emerged from a church and a large political rally last month. There're many countries I wanna see South Korea been one of them Meanwhile in the US... hmmm, South Korea's trend is moving the right way, Florida Man Disantus has opened up his state, stoped all CORONA safety measures as Florida hits all-time highs... Is he going after the Ultimate Florida Man title? How do we nominate him for the Guinness Book & Darwin Awards?

South Korea registers 50 new Covid-19 cases – latest updatesAs South Korea reports lowest Covid19 cases since last month, here are other updates: 🇨🇳 Mainland China registers 21 cases 🇦🇺 Australian firm says its nasal spray reduces virus growth 🇧🇷 Brazil reports 14,318 cases For more: And India with the highest no. of cases in the world right now 🇮🇳 We A look at the active cases of Covid19, which has infected over 33 million people globally:

North Korea warns South away from waters amid search for killed officialThe Southern official was shot dead by North Korean soldiers last week when found adrift in waters off the coast of the peninsula. I AM JESUS ​​CHRIST AND I DO NOT SUPPORT RACISM !! DONALD TRUMP IS THE OLD SERPENT 'THE DRAGON' 'THE DEVIL'. I WILL DEFEND AFRO-AMERICANS !! I came to step on the serpent's head. 'Revelation of the bible' End of the world