K-Pop band BTS agency Big Hit prices IPO at top of range in blockbuster offering | Markets Insider

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K-Pop band BTS agency Big Hit prices IPO at top of range in blockbuster offering

Korea's Big Hit Entertainment, which manages K-pop idol band BTS, priced its upcoming IPO at the top of its anticipated range and was swamped by investor demand.

The company, headed by CEO Bang Si Hyuk, priced its upcoming initial public offering at the very top of its indicative range of 105,000-135,000 won a share, it said in a regulatory filing on Monday Aside from their success in the music world, the IPO will make the members of BTS multimillionaires in their own right. Bang, a lyricist and composer, and the largest shareholder of Bit Hit Entertainment, gave 478,695 common shares to the seven band members, or 68,385 apiece, according toUBS: Buy these 23 stocks across major themes that are poised to outperform amid uncertainty and conflicting signals in the marketShares in other entertainment companies shot higher following the announcement.

 

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