SEOUL: Shares in the management agency of K-pop sensation BTS more than doubled on their stock market debut Thursday, making an instant multi-billionaire of its chairman and boosting the seven band members’ own fortunes.
The IPO price was set at 135,000 won but within minutes of the Kospi exchange opening the stock was trading at 330,000 won, platforms showed. The flotation also boosts the band members’ own wealth – Bang gave each of them more than 68,000 shares in August, worth around US$8 million at the IPO price and totalling 1.4% of the company.“Considering all the information about the firm now available, the IPO price could be the lowest price we will ever see,” Park Sung-ho of Yuanta Securities told AFP.
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