Company behind SKorean hit band BTS soar in trading debut

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Powered by strong support from avid fans, shares of South Korea’s Big Hit Entertainment, the company that manages global pop sensation BTS, soared in their trading debut in Seoul.

Catch up on the developing stories making headlines.SEOUL, South Korea -- South Korea’s Big Hit Entertainment, the company that manages global pop sensation BTS, had a dynamite trading debut Thursday in Seoul, helped by the zeal of its loyal fans.

The company’s shares opened at 270,000 won , about double their initial public offering price. They surged 30%, hitting the daily trading limit, before falling back and closing at 258,000 won , bringing the company's valuation to 8.7 trillion won . The band — consisting of J-Hope, RM, Suga, Jungkook, V, Jin and Jimin — has performed in sold-out arenas around the world and was even invited to speak at the U.N. General Assembly last month.

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