BTS made Bit Hit a huge success. They're also why its IPO is so risky

Hong Kong / Seoul The music label behind the planet's biggest K-pop sensation has parlayed that success into a multimillion-dollar share issue.

But Big Hit Entertainment's extreme reliance on BTS could turn out to be just as much a liability as it is an asset. The company raised nearly 963 billion won by selling shares in its initial public offering, making it South Korea's largest IPO since July 2017, according to data compiled by Dealogic. Early reception was very positive: Shares opened Thursday at 270,000 won each, well above the IPO price of 135,000 won each. They were last trading at 301,000 won .

BTS perform 'Tiny Desk' concert from Korea 00:45Big Hit also noted the group's reputation as a potential risk in its filing. Other labels have struggled with scandal. Last year, YG Entertainment's stock plunged after a member of one of its acts, Big Bang, was investigated for a range of allegations, including allegedly violating South Korea's prostitution law.

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Who cares? Chinese crap music for little inpressionable lib girls

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