According to reports, Big Hit Entertainment is gearing up to become a public company.

Last month, it was reported that Big Hit Entertainment sent an RFP (request for proposal) to stock firms to underwrite the company’s IPO (initial public offering). An underwriter acts as an intermediary between a company and the investing public.

According to the investment bank industry, on February 24, Big Hit Entertainment informed NH Investment & Securities, Korea Investment & Securities (KIS), and JPMorgan Chase of their selection as Big Hit Entertainment’s book runners (lead underwriters) for the agency’s IPO. Mirae Asset Daewoo was chosen as a joint underwriter.

Now that the agency has selected its underwriters, it is likely that it will officially begin taking steps to go public. At this pace, Big Hit Entertainment is predicted to enter the stock market within 2020 at earliest. According to Herald Biz, Big Hit Entertainment’s company value is expected to reach around 2 trillion won (approximately $1.6 billion) to up to 4 trillion won (approximately $3.3 billion).

Big Hit Entertainment was established in 2005 and currently houses BTS, TXT, and Lee Hyun. In 2019, the entertainment agency recorded 587.9 billion won (approximately $495.3 million) in consolidated revenue and 97.5 billion won (approximately $82.1 million) in operating profit.

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