Shares of Big Hit, which manages K-pop group BTS, lose more than a fifth

Credit: REUTERS/KIM HONG-JI

Shares in BTS Big Hit Entertainment, the management agency of South Korean superstar K-pop group BTS, fell more than 20% during Friday trade, extending losses from its debut the previous day.

SEOUL, Oct 16 (Reuters) - Shares in BTS Big Hit Entertainment 352820.KS, the management agency of South Korean superstar K-pop group BTS, fell more than 20% during Friday trade, extending losses from its debut the previous day.

Shares in Big Hit, which relies heavily on the boy band for revenue, had defied pre-listing hype to dip on Thursday, but analysts said the lower price should be viewed as more reasonable, based on fundamentals.

The KOSPI benchmark .KS11 was down 1.2%.

(Reporting by Joyce Lee)

((jungyoon.lee@tr.com; +82 2 6936 1467;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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