BTS Wins Huge Bargain as Management Label Shares Debut | Economic news

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Members of successful South Korean boy group BTS have landed a huge windfall after their stellar management label debuts on the stock exchange.

Big Hit Entertainment’s listing was the largest in South Korea for three years, with shares open at 270,000 won (£ 181) each.

This compares to an IPO (IPO) price of 135,000 won (£ 90) per share last month – valuing the company at around 9.6 billion won (£ 6.4 billion).

The seven members of BTS each have shares worth up to 24 billion won (£ 16 million), based on the first trades.

Big Hit shares rose 30% early in Thursday.

This puts him on track to become one of the top 10 debuts in the country’s history.

BTS accounts for 87.8% of Big Hit’s revenue and has a large and loyal fan base around the world.

The coronavirus has forced the group to limit performance to social media and online, but it has not interrupted their success.

In August, the band’s single Dynamite became the most-viewed YouTube video in 24 hours, with 101 million views in one day.

An online concert in June also set a record for the most watched live concert, with 756,000 fans from over 100 countries.

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