BTS to become multi-millionaires after label goes public

Soaring demand for shares in Big Hit has given it a market valuation of £3.2bn ($4.1bn), with shares priced at the top of the expected price range.

Big Hit boss Bang Si-hyuk, who owns 43% of the management label, will become a billionaire.

In August, he gave each BTS member 68,385 shares, worth £6.2m in total.

Currently priced at between 105,000-135,000 won (£70.03-£88.70) per share, Big Hit expects to raise about £638.3m with the sale of 7.13 million new shares when it is listed on Korea's Stock Exchange, the KOSPI, on 15 October.

BTS's Dynamite shatters YouTube records - and heads for UK number one

The pastel-coloured, dance-heavy video was watched 101.1 million times in 24 hours after its release last Friday.

That surpasses the previous record, set by fellow K-Pop band Blackpink, whose song How You Like That racked up 86.3 million views in 24 hours in June.

Dynamite is also the first video to achieve 100 million views in one day.

More than three million fans also tuned in to watch the clip's live premiere - almost double the previous record, also held by Blackpink's How You Like That.

K-pop band perform in Saudi Arabia despite criticism

The boy band performed in front of a sell-out crowd at King Fahd International Stadium in Riyadh on Friday evening.

However they faced criticism for their decision to play in a country that has been condemned for human rights abuses.

BTS is one of the world's biggest acts - the first Korean pop group to reach number one on the US album charts.

Known for their meticulously choreographed dance style and boyish good looks, they boast a huge and devoted fan base.

The band had been invited to play in the country by Saudi Crown Prince Mohammed Bin Salman.

BTS's record label sues over 'malicious' posts

Big Hit Entertainment, the company behind the pop band, says it is taking action over posts "that exceed the reasonable and accepted boundaries of expression and personal commentary".

The firm did not go into detail about the nature of the comments.

However, it has previously sued over claims of "sajaegi" - bulk-buying albums to inflate BTS's chart position.

Earlier this summer, the company also asked for court authorisation to seize and destroy bootleg merchandise being sold outside the band's concerts.