The music company Warner Music has successfully returned to the stock exchange. The one on Wednesday at the New Yorker Nasdaq traded shares of the group, which include stars like Ed Sheeran, Bruno Mars and Cardi B is under contract, met with keen interest from investors.
The first price was $ 27 – with an issue price of $ 25. In early trading, they rose under the acronym “WMG“listed papers temporarily up to the $ 29 mark.
High demand
Given the high demand Warner Music the number of his offered shares had previously been increased from 70 million to up to 77 million. So that succeeded alongside Universal Music and Sony Music’s only remaining so-called major label to raise a good $ 1.9 billion from investors and thus the largest to date initial public offering to lift in 2020. Overall, the group was valued at $ 12.75 billion (€ 11.3 billion).
The Warner Music Group is majority owned by the billionaire’s investment company Access Industries Len Blavatnik and was already at the until 2011 New York Stock Exchange listed. It is remarkable that the company was able to successfully return to the stock market during these times – the state of emergency due to the Corona crisis had deterred many companies from such ventures. In the meantime, however, the mood on the markets has eased significantly and there will be more in the near future IPOs at.
–
/cloudfront-eu-central-1.images.arcpublishing.com/prisa/R5CCMNED3RFZFKPWCIEGXTPGOI.jpg?resize=150%2C150&ssl=1)
