IPO for K-Pop band BTS a big hit

FILE PHOTO: Band BTS performs during the 2020 MTV VMAs

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

Institutional investors expressed interest in more than 1,000 times the number of shares on offer, with Big Hit riding on the success of the seven-member band, which has become the first South Korean group to reach No. 1 on the US Billboard Hot 100 singles chart with song “Dynamite”.