Warner Music Group to go public on NASDAQ at $25.00 per share
WarnerMusic Group has confirmed that it’s set to go public on the Nasdaq stock exchange on June 3rd in New York, floating 77 million shares of Class A common stock.
Those 77m shares will be available at an initial public offering price of $25.00 per share, which could raise approximately $1.925 billion for WMG owner Access Industries and certain related selling stockholders.
Warner will not receive any proceeds from the offering. The size of the IPO was increased from the previously announced 70m shares of Class A common stock due to strong demand.
One thing you might want to know:
Tencent already bought a minority stake of 200 Million before Warner went on the market.
Judging by information contained within Warner’s most recent S1/A filing with the Securities & Exchange Commission, that $25.00 per share opening price will give Warner a valuation of $12.774bn (not factoring in debt).
WMG and Len Blavatnik announced a $100m fund for anti-racist and music industry causes earlier today (June 3).
The shares of Class A common stock will trade on the Nasdaq under the ticker symbol “WMG”.
An easy way to buy shares that I personally use is eToro. It’s also a good beginner’s app to monitor your shares on the go.