India's biggest IPO? Hyundai also picks Kotak, MS to finalize syndicate; eyes $2.5 bn to $3 bn raise moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Mumbai: Hyundai Motor, the South Korean automotive company, has proposed an initial public offering (IPO) for its India division. It has selected JP Morgan, Citi, and HSBC as advisors for the potential IPO, aiming to raise an estimated $3 billion to $3.5 billion, Moneycontrol reported citing various anonymous industry insiders.
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BTS label Big Hit is buying a $63m stake in rival K-Pop company YG
January 27, 2021
BLACKPINK
Big Hit Entertainment, the K-Pop powerhouse behind BTS, has revealed its intention to invest 70 billion won (approximately $63m) in rival K-Pop company YG Entertainment.
Seoul-based YG Entertainment, founded by Yang Hyun-suk in 1996, has worked with K Pop superstars like BLACKPINK, BIGBANG, 2NE1, and Psy.
In 2018, Universal Music Group and Interscope announced a global deal to represent YG Entertainment’s biggest artist, girl band BLACKPINK, outside of Asia.
Yonhap News Agency, the deal will see Bang Si-hyuk-led Big Hit, and its subsidiary beNX, invest 30bn won and 40bn won, respectively, in YG’s merch and distribution affiliate, YG Plus.
Koury Angelo for Rolling Stone; Toni Anne Barson/Wireimage
As reported by Korea’s Yonhap News Agency, Big Hit Entertainment, the K-Pop powerhouse behind BTS, has revealed its intention to invest 70 billion won (approximately $63 million) in rival K-Pop company YG Entertainment. The deal will see Bang Si-hyuk-led Big Hit, and its subsidiary beNX, invest 30 billion won and 40 billion won, respectively, in YG affiliate YG Plus.
Variety reports that this investment gives Big Hit and beNX a combined 17.9% stake in YG Plus.
Seoul-based YG Entertainment, founded by Yang Hyun-suk in 1996, has worked with K Pop superstars like Blackpink, Bigbang, 2NE1, and Psy. Yang Hyun-suk left the company in June 2019.