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Big Hit Entertainment sets IPO price at US$ 115 Updated: 2020-09-28 17:01:52 KST

The company that manages K-pop boy band BTS is going public next month, and they've set their IPO price at 115 U.S. dollars a share.
That's the top end of its proposed range, after bids were taken from institutional investors last week.
In two days of book-building, Big Hit Entertainment drew over 1,400 institutional investors from Korea and abroad with bids outnumbering offers by 1,1-hundred-17 to one, which is one of the highest ratios ever.
It's higher than the ratio for SK Biopharmaceuticals when it went public this summer, but not as high as Kakao Games, whose IPO last month had a bid ratio of almost 15-hundred to one.
Retail investors will be able to subscribe on October 5th and 6th ahead of the IPO later in the month.
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