K-Pop band BTS to become multi-millionaire shareholders with label’s IPO

In this file photo taken on November 19, 2017 South Korean boy band BTS poses in the press room at the 2017 American Music Awards, in Los Angeles, California. - K-pop sensation BTS has become the first all-South Korean act to rule the top US singles chart, industry tracker Billboard announced on August 31, 2020, with their English-language "Dynamite" hitting number one. - AFP

SEOUL: Members of hugely popular South Korean K-Pop band BTS are expected to become multi-millionaire shareholders after receiving shares in their label, Big Hit Entertainment, as it prepares an initial public offering (IPO) that could raise up to 962.6 billion won (US$811mil).

This week, BTS scored Korea’s first-ever No 1 spot on the main US Billboard music chart with breezy disco hit “Dynamite”.