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South Korea: BTS fans race to buy a stake as Big Hit Entertainment sets IPO price

Fervour builds ahead of IPO of BTS management label Big Hit Entertainment
Fervour builds ahead of IPO of BTS management label Big Hit Entertainment © FRANCE 24

South Korea's Big Hit Entertainment, the management label behind the K-pop megaband BTS, has priced its initial public offering at 135,000 won ($115) per share – at the top of its indicative price range. Fervour is building ahead of the IPO planned for October, with die-hard BTS fans as well as institutional investors rushing to place orders for what is expected to be one of the country's biggest market debuts in recent years. But first, TikTok wins a temporary reprieve as a US judge orders a stay on a download ban imposed by the Trump administration over data security concerns.