K-pop group BTS' label Big Hit debuts at double its IPO price

Korea K-Pop band BTS

SEOUL: Big Hit Entertainment, the management label of popular South Korean boy band BTS, debuted at double its initial public offering (IPO) price on Thursday, as investors scrambled for a piece of the country's largest listing in three years.

Big Hit shares opened at 270,000 won, valuing the company at about 9.6 trillion won ($8.38 billion), compared with an IPO price of 135,000 won per share last month.