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K-Pop Sensation BTS’s Agency Prices Its IPO at High End of Range

  • Big Hit, agency for boy band, poised to raise $820 million
  • Despite Covid-19 curbing concerts, BTS still a hot property
Bloomberg business news
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Big Hit Entertainment, the management company behind the world’s best-known boy group, will raise about 962.6 billion won ($820 million) from its initial public offering after pricing shares at the top end of their range, reflecting the continuing popularity of BTS.

Big Hit priced shares at 135,000 won after setting an initial range of 105,000 to 135,000. Institutional investors oversubscribed by more than 1,000 times the shares allocated to them.