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Shares in K-pop group BTS’ management label Big Hit drop after debut

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Shares in Big Hit Entertainment 352820.KS defied the pre-listing hype to dip on their first day of trade on Thursday, giving the management label of South Korean superstar K-pop group BTS a market valuation of 8.7 trillion Won (5.8 billion pounds).

Big Hit, which relies heavily on the boy band for revenue, doubled its initial public offering price to debut at 270,000 won per share, for a 9.6 trillion Won valuation. Shares surged by as much as 30 per cent in early trade before dropping back.

Analysts said the closing share price of 258,000 Won, still around 90 per cent above the IPO price, should be viewed as a more reasonable price based on fundamentals, rather than a sign of listing failure.

“The closing price is already around analysts’ average target price for 2022, based on estimations of profit increases,” said eBest Investment & Securities analyst Jina An.

Volatility in early trade – Big Hit topped the daily turnover list with 1.94 trillion Won worth of stock changing hands – was to be expected for such a large, high-profile listing, she added.

Analysts say Big Hit has proved itself online savvy, using Youtube, social media and online concerts for revenue generation since in-person performances were cancelled because of the coronavirus pandemic.

But concerns continue about Big Hit’s reliance on its star artists, which makes revenue especially vulnerable to any disruptions in output from key talent. BTS, which has a huge global following, accounted for 87.7 per cent of the label’s revenue in the first half of 2020, according to a regulatory filing.

“The industry is booming, but it’s also very cyclical, and undergoes a lot of fluctuations,” said Kim Hyun-yong, analyst at Hyundai Motor Securities, citing potential obstacles such as the country’s mandatory military service.

That service is looming for BTS, with the eldest member of the band currently required to sign up by the end of next year and the remaining six members over the following five years.

Some lawmakers and fans have called for the band to receive an exemption from or postponement of the roughly two-year commitment, arguing they are doing plenty for their country without wearing a soldier’s uniform.

Earlier this week, BTS faced a barrage of criticism in China after the band’s lead member made remarks about the 1950-53 Korean War.

BTS-related social media posts of big-name brands, including Samsung, FILA and Hyundai, subsequently disappeared from Chinese e-commerce platforms.

Thursday’s float made the band members instant multimillionaires, with each granted shares worth 17.6 billion Won ($15.39 million) at the closing price, but BTS’ official Twitter account did not reference the listing, focusing instead on the group’s win at the coinciding U.S. Billboard Music Awards for Top Social Artist.

Analysts said BTS’ successful online concerts and Big Hit’s unprecedented level of control over its revenue streams via its Weverse fandom platform that distributes BTS content and sells merchandise, differentiate the label.

“Although offline concerts are impossible for the time being, Big Hit’s results in the first half of this year show that the content and merchandise made profits; it was hardly affected on-year,” said KTB Investment & Securities analyst Nam Hyo-ji.

Big Hit founder and co-CEO Bang Si-hyuk said the company would continue “to research, challenge, discover innovative business models, and apply them to continue to grow in the global market.”

The listing added to heightened IPO activity in South Korea, with volumes rising 51per cent to $2.9 billion so far this year, compared with the same period last year, according to Refinitiv data.

The pipeline looks solid after government stimulus to boost the economy amid the coronavirus pandemic flooded markets with cash, analysts said.

Online game developer Krafton, and chat app operator Kakao’s 035720.KS mobile banking unit KakaoBank have both begun preliminary processes for listing.(Reuters/NAN)

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Gov AbdulRazaq Lauded Over Conferment Of Sadauna Of Ilorin Title

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Stephen Olufemi Oni, Ilorin

Kwara State Governor AbdulRahman AbdulRazaq has been hailed for the conferment of the prestigious Sadauna of Ilorin Emirate title on him by His Royal Highness, the Emir of Ilorin, Alhaji (Dr.) Ibrahim Sulu-Gambari, CFR.

Giving the commendation on Tuesday in a statement in Ilorin, the state capital, Alhaji Yakubu Garba Gobir, who is the Sarkin Gobir and Madawaki of the Ilorin Emirate, described the recognition and honour on Governor AbdulRazaq as well deserved, timely and apt, giving his huge contributions to the growth and development of Ilorin Emirate and Kwara State as a whole.

Gobir specifically commended the Emir of Ilorin for conferring this distinguished title in recognition of the qualities and contributions of the new Sardauna, noting that it is a solemn call for greater responsibility, leadership, loyalty and devoted service to the Emirate and its people.

He added: “The title of Sardauna occupies a position of profound significance in the history, heritage and traditions of the Ilorin Emirate. I commend His Royal Highness, Alhaji (Dr.) Ibrahim Sulu-Gambari, CFR, the Emir of Ilorin, for conferring this distinguished title in recognition of the qualities and contributions of the new Sardauna.

“The title embodies courage, leadership, loyalty and devoted service to the Emirate and its people. Your elevation is therefore not merely a mark of honour; it is also a solemn call to greater responsibility and continued service.

“As a fellow title-holder in the Ilorin Emirate, I am particularly delighted to welcome you into this distinguished circle of traditional leadership. I am confident that you will bring to the office the same qualities of leadership, dignity and unwavering commitment to public service that have distinguished your tenure and career.

“At a time when our Emirate and our State require men and women of character, wisdom and courage to advance the interests of our people, I am certain that you will make a meaningful contribution to the enduring unity, progress and development of the Ilorin Emirate.”

Gobir offered prayers for a successful, impactful and enduring tenure for the new Sadauna, adding:
“May Almighty Allah grant you wisdom, sound health and strength, and may He make your tenure as Sardauna of Ilorin a source of lasting honour to you, your family and the entire Ilorin Emirate.”

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FG Commissions KWASU ICT Centre To Enhance Graduates Employability

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Stephen Olufemi Oni, Ilorin.

The wife of President Bola Ahmed Tinubu, Senator Oluremi Tinubu, has commissioned a TETFund/Renewed Hope Initiative-backed ICT Experience Centre at the Kwara State University (KWASU), Malete.

It would be recalled that KWASU is one of the six tertiary institutions selected for the pilot phase of this intervention, with one institution representing each of the Nigerian six geopolitical zones.

Represented at the commissioning on Tuesday by the wife of the Vice-President, Nana Shettima, Tinubu said the project is a testament to the federal government’s commitment to advancing education, digital inclusion and enhancing graduate employability.

“The TETFund/Renewed Hope Initiative ICT Experience Centre we are commissioning today represents opportunity, innovation, knowledge, and the future of young people in Kwara State and beyond.

She said: “This initiative aligns with the Renewed Hope Agenda of the administration of His Excellency, President Bola Ahmed Tinubu, GCFR, which places emphasis on youth empowerment, education, innovation, and economic transformation. Mr President is committed to creating opportunities that will equip Nigerian youths with knowledge and skills required to thrive in a modern and competitive world.”

Senator Tinubu said the facility was designed as a modern technology centre equipped with ICT laboratory, interactive digital display, conference facility, and exhibition spaces, adding that it would be an environment for learning, creativity, research, and technology advancement.

According to her, the ICT centres had been commissioned at the Ekiti State University on May 28, University of Cross Rivers State on September 4, Anambra State Polytechnic on September 10, adding that the Centres at Kaduna State University and Taraba State Universities would be commissioned soon.

“The next phase of this intervention will cover 15 institutions in Adamawa, Bayelsa, Borno, Delta, Edo, Enugu, Imo, Katsina, Nasarawa, Niger, Ondo, Osun, Rivers, Yobe, and Zamfara states which construction is currently ongoing. This expansion demonstrates the administration’s commitment to ensuring that more Nigerian youths, irrespective of their locations, have access to digital learning opportunities,” she said.

She encouraged the students to take ownership of the facility, maximise the opportunity it provides, and use technology positively to enhance their lives, community, and the nation.

In his speech, the Executive Secretary of Tetfund, Architect Sonny Echono, said the centres are being established across selected Universities, Polytechnics and Colleges of Education, with the Kwara State University, Malete proudly hosting the facility in the North-Central Zone.

“Through practical training and digital skills acquisition, TETFund seeks to enhance graduate employability, foster innovation and position Nigeria to participate more effectively in the global
technology-driven economy,” he added.

Echono also said that the ICT Experience Centre is designed to equip students and lecturers with critical digital skills in Artificial Intelligence, Cybersecurity, Robotics and Software Development.

He added: “The Centre being commissioned today is one of the foremost ICT Experience Centres being delivered across the country, and the third to be commissioned this year. The Centre is equipped with modern digital devices, Computer systems and relevant software to facilitate training, practical learning and skills development. The facility is appropriately furnished and
fully air-conditioned, with supporting power and municipal infrastructure.”

Also speaking, the Vice Chancellor of the University, Professor Shaykh- Luqman Jimoh, said the new facility represents vision, belief, and an investment in the Nigerian youth to better shape the future of our
nation.

The Vice Chancellor described the ICT Experience Centre as an investment in human capital, in innovation, in entrepreneurship, and, most importantly, it is an investment in the future of Nigeria.

“This Centre will provide opportunities for our students to develop practical digital skills and engage with contemporary technologies. Importantly, it is our hub for interdisciplinary engagement.

“This ICT Experience Centre is therefore a timely, critical, and strategic infrastructure that will definitely enhance research, teaching, learning, entrepreneurship, and community service. This intervention is at the core of what this university seeks from partners and donors: synergies that add value and impact on today and the future,” he started.

KWASU Vice Chancellor also assured that the ICT Experience Centre would be put to maximum use for the benefit of students, researchers, and the University
community, adding that the “KWASU community would engage with the facilities in this Centre, we will use it. We will explore, experiment, learn, and innovate in i

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2027: Violent ;Kaduna as ADC, APC Supporters Trade Accusations….APC Calls For Police Investigation into the Vandalisation, attacks on its Office

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By Hassan Agboola

Tension is mounting in Kaduna State ahead of the 2027 general elections, following renewed exchanges between supporters of the African Democratic Congress (ADC) and groups backing the administration of Governor Uba Sani.
The latest development came on Tuesday when ADC governorship candidate, Isa Ashiru, addressed supporters in Kaduna and, according to an account of his remarks, declared that the party was prepared to respond to attacks against its members.
Ashiru was also quoted as saying that it was Governor Uba Sani, rather than President Bola Ahmed Tinubu, who was responsible for the continued detention of former Kaduna State Governor, Nasir El-Rufai.

However, available public records show that El-Rufai’s detention followed proceedings before the Independent Corrupt Practices and Other Related Offences Commission (ICPC), with the commission stating that his continued custody was based on a court-issued remand order.

The controversy over El-Rufai’s detention has nevertheless become a major political issue in Kaduna and beyond. The ADC has repeatedly criticised the handling of the former governor’s case and alleged political persecution, while other political actors have made different claims about the circumstances surrounding his detention.
Rising political temperature

Ashiru’s emergence as the ADC governorship candidate has added another dimension to the political contest in Kaduna. He defeated other aspirants at the party’s governorship primary in May 2026 and is now preparing for another governorship contest after previously representing the PDP in the 2019 and 2023 elections.
The political atmosphere has been further complicated by disagreements within the ADC and accusations from different groups over the party’s leadership and candidates.

A Southern Kaduna political group, for instance, recently questioned Ashiru’s candidacy and the choice of his running mate, allegations rejected by an ADC official.
The situation has also produced incidents involving ADC supporters and security personnel. In one recent incident, police dispersed an ADC solidarity walk in Kaduna, while the party subsequently accused opponents of attacking its members and warned that political violence could escalate ahead of the 2027 elections.

The former governor remains an important factor in the emerging political contest. El-Rufai was taken into custody in February 2026 after responding to an invitation from the ICPC. His family subsequently demanded his release, while the anti-graft agency maintained that his detention was authorised by a court.
Since then, the issue has increasingly featured in political statements by the ADC and its supporters, with the party accusing the Federal Government of political persecution and calling for the former governor’s release.
The development has created a new political fault line involving the ADC, the APC-led Kaduna State Government and supporters of the former governor.

While allegations have been exchanged over who is responsible for political violence in Kaduna, the competing narratives should not be confused with established findings. The ADC itself has recently rejected the suggestion that it has a monopoly on political violence and accused unnamed opponents of introducing thuggery into the 2027 political process.

With the 2027 election campaign yet to fully commence, the increasingly combative language from ISA Ashiru and his supporters has raised concerns about the possibility of further confrontation.
The immediate challenge before the political parties, security agencies and community leaders is therefore to ensure that political disagreements do not degenerate into violence, particularly in a state with Kaduna’s history of politically and communally sensitive conflicts.
As at the time of filling tid report the All progressive congress, APC , Kaduna state in a statement has condemned the attacks on its office and called for police investigation
Certainly. I’ll retain the substance of the report while correcting grammar, tightening the structure, and presenting it as a clean newspaper hard-news story.
Writing
APC Condemns Violent Attacks on Members, Party Offices in Kaduna
The Kaduna State chapter of the All Progressives Congress (APC) has condemned alleged violent attacks on its members and the vandalisation of party offices and properties in the state.
The party also called on the police and other security agencies to investigate the incidents and ensure that those responsible are brought to justice.
In a statement, the Kaduna State APC Publicity Secretary, Sani Dan-Azare, alleged that some of the party’s members and supporters had been attacked, while some party and support-group offices were vandalised.
He also alleged that vehicles belonging to some party members were damaged during the incidents.
The APC described the attacks as unacceptable and urged security agencies to conduct a thorough and impartial investigation to establish the circumstances surrounding the incidents.
The party called on its members and supporters to remain calm and law-abiding, stressing that they should not resort to retaliation or take the law into their own hands.
The APC said it remained committed to peaceful political engagement and urged all political actors in Kaduna State to conduct their activities within the bounds of the law.
It further appealed to security agencies to strengthen security around party offices and other sensitive locations to prevent further incidents.

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