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BTS manager loses US$10 bil in market cap from peak as stock slides

Bloomberg
Bloomberg9/28/2022 06:40 PM GMT+08  • 2 min read
BTS manager loses US$10 bil in market cap from peak as stock slides
Hybe Co. dropped 7.1% to 130,000 won on Wednesday, below its 135,000 won debut price
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Shares of K-pop juggernaut BTS’s managing agency tumbled below the initial public offering price for the first time, extending a rout that’s wiped about US$10 billion in market value from the peak.

Hybe Co. dropped 7.1% to 130,000 won on Wednesday, below its 135,000 won debut price. The stock has languished since a June plunge when the boy band made a shocking announcement to shift to solo projects, with the members’ looming deadline on military service adding to risks.

Read more: BTS Pop Band Triggers $1.7 Billion Stock Rout on Shift to Solos

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