Big Hit Entertainment — the label behind K-pop superstars BTS — is set to list, becoming South Korea’s largest IPO in years. Shares will cost $115 each, valuing the company at around US$4 billion. There has been massive interest among institutional investors — the portion of the shares reserved for them is more than 1,000 times oversubscribed. In 2019, Big Hit posted 587 billion won (US$500 million) in revenue, and BTS accounted for about 97% of the firm’s sales
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