Investors swamp IPO for K-Pop band BTS management label, prices at top of range

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Big Hit Entertainment, the management label of hugely popular South Korean K-Pop group BTS, priced its initial public offering (IPO) at the top of its range on Monday, as hopeful buyers chased South Korea's largest listing in three years.

SEOUL - Big Hit Entertainment, the management label of hugely popular South Korean K-Pop group BTS, priced its initial public offering at the top of its range on Monday, as hopeful buyers chased South Korea’s largest listing in three years.

An army of retail investors, known in South Korea as Ants, is also clamouring to buy stock, while die-hard BTS fans are bidding in hopes of securing even one share in what analysts expect to the country’ hottest listing this year. “Big Hit is classified as a kind of global export firm,” said Park Sung-ho, analyst at Yuanta Securities Korea.

The IPO will make the seven BTS members multimillionaire stockholders, as Big Hit CEO Bang Si-hyuk in August gave them 68,385 shares each, worth nearly $7.9 million at the issue price.

 

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why would you run a band as a public company? can't think of a worse decision for artists

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