BTS record label to raise over $800 million in Korean IPO

BTS

(MarketWatch) – The manager of the K-pop boy band BTS is planning to raise up to $811.9 million by listing on the South Korean stock exchange in October, the Wall Street Journal reported Wednesday.

Big Hit Entertainment Co. is planning to sell 7.13 million shares priced at 105,000 ($88.5) to 135,000 Korean won, the company said in a regulatory filing. Pricing is planned for Sep. 28, followed by order taking on Oct. 5 and 6, the filing said.

The company is expected to have a valuation of 4.6 trillion won, said the paper. The news comes the same week that the band hit number 1 on the U.S. Billboard Top 100 chart with their first all English-language single, “Dynamite.”

Share: