South Korea’s music agencies are rushing to go public to capitalise on rising global demand for K-pop that has pushed entertainment sector listings in the country to a record high.
Funds raised by entertainment listings in Seoul this year have hit a record $3.8bn, Dealogic data show, while shares in the country’s leading music agencies have hit all-time highs as artists resume live concerts and other events.
The global popularity of K-pop stars including seven-member boy band BTS and girl group Blackpink has prompted smaller agencies to flock to the market.
RBW, the music label behind girl group Mamamoo, is expected to list on Monday, after raising Won26.8bn ($22.5m) in its initial public offering. The IPO price was set at the top end of the range, with the offering oversubscribed more than 3,700 times.
“The IPO success vindicates the importance of music IPs and our…