South Korean boy band BTS backstage through the 61st Annual GRAMMY Awards at Staples Heart on February 10, 2019 in Los Angeles, California.
John Shearer | Getty Photos Leisure | Getty Photos
SINGAPORE — Shares of Large Hit Leisure, the music label behind international Okay-pop phenomenon BTS, had been priced on Monday on the prime finish of the vary forward of their extremely anticipated market debut.
Large Hit Leisure’s inventory worth was set at 135,000 South Korean gained (approx. $115) per piece, in keeping with a regulatory submitting on Monday. That was on the prime finish of the 105,000-135,000 gained per share vary which was earlier introduced. Large Hit is predicted to make its market debut in October.
Leisure shares in South Korea popped on the again of the Large Hit IPO pricing announcement, with YG Leisure up practically 12%, JYP Leisure greater by practically 10% and SM Leisure jumped greater than 7%.
A latest Reuters report indicated that retail investor curiosity for Large Hit’s IPO is predicted to be sturdy, with fans of BTS reportedly looking to secure shares of the label.
Reuters additionally stated demand amongst South Korean retail traders for brand spanking new share listings has been sturdy as markets are stuffed with money after authorities stimulus efforts to prop the coronavirus-hit financial system.
Earlier in September, South Korean online game writer Kakao Video games noticed a blockbuster market debut, and shares surged by the daily permissible limit of 30% on their first trading day.
— CNBC’s Chery Kang contributed to this report.
