South Korean boy band BTS backstage during the 61st Annual GRAMMY Awards at Staples Center on February 10, 2019 in Los Angeles, California.
John Shearer | Getty Images Entertainment | Getty Images
SINGAPORE — Shares of Big Hit Entertainment, the music label behind global K-pop phenomenon BTS, were priced on Monday at the top end of the range ahead of their highly anticipated market debut.
Big Hit Entertainment’s stock price was set at 135,000 South Korean won (approx. $115) per piece, according to a regulatory filing on Monday. That was at the top end of the 105,000-135,000 won per share range which was earlier announced. Big Hit is expected to make its market debut in October.
Entertainment stocks in South Korea popped on the back of the Big Hit IPO pricing announcement, with YG Entertainment up nearly 12%, JYP Entertainment higher by nearly 10% and SM Entertainment jumped more than 7%.
A recent Reuters report indicated that retail investor interest for Big Hit’s IPO is expected to…
