Patrick Frater Asia Bureau ChiefBig Hit Entertainment, the agency behind K-pop sensation BTS, has set the price of its shares being sold in an IPO at a price which reflects massive fan interest.The company said on Monday in a regulatory filing that its shares would be sold at KRW135,000 apiece.
That was at the top of a previously indicated range of KRW105000-KRW135,000, and follows two days of demand forecasting with institutional investors.The portion of the issue reserved for local and foreign professional investors was more that 1,100 times subscribed, with 1,420 institutions taking part.
Retail investors are expected to get their chance to apply for shares on Oct. 5-6, and surveys have shown that many fans will attempt to subscribe.
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