Music label for boy band BTS brings in $50B in IPO
They’re one of the hottest boy bands in the world, South Korea’s BTS.
And everyone wants a part of them, or as close to it as they can get.
Retail investors in South Korea snapped up shares of Big Hit Entertainment, the music label behind BTS, to the tune of $50 billion during the two-day subscription as part of its initial public offering.
That was more than 600 times the value of shares on offer to retail investors, meaning that many would-be shareholders will receive only a fraction of their requests.