Manager of Korean boy band BTS to raise US$811m in listingBoy bang BTS's 'Dynamite' topped Billboard's main Hot 100 singles chart in the United States on August 31. Big Hit Entertainment, the management label of hugely popular South Korean K-Pop group BTS, said it plans to raise up to 962.6 billion won (US$811 million) in its planned initial public offering, Reuters reports. The IPO is one of the most highly-anticipated offerings in South Korea this year as retail investors bet heavily in the local stock market. Big Hit plans to offer about 7.1 million newly-issued shares at an indicative price range of 105,000-135,000 won per share, according to a regulatory filing. Last month, Big Hit reported 49.7 billion won in half-year profits as its online concert and merchandise sales more than offset event cancellations during the pandemic.

Source: The Standard September 03, 2020 03:33 UTC