The recording company, which has musicians like Ed Sheeran on its books, tries to cash in on the streaming boom with a listing that would value it at up to $13.3 billion.
The Warner Music Group, the home of stars like Ed Sheeran, Cardi B and Led Zeppelin, announced on Tuesday that it would proceed with an initial public offering that would value the company at up to $13.3 billion.
The listing, planned for Nasdaq, would be the latest sign of the dramatic turnaround in the fortunes of the music business. Warner was bought for $3.3 billion in 2011 by Access Industries, the conglomerate controlled by the Russian-born billionaire Len Blavatnik, when the industry seemed to be on a terminal decline.
Since then, the music business has been reinvigorated by streaming services, leading investors to cash in. Last year, the Chinese company Tencent Holdings bought 10 percent of the Universal Music Group at a price that valued Universal at more than $33 billion.
The Warner I. P. O. would float 70 million shares, or 13.7 percent of its common stock, for between $23 and $26 a share — valuing the company’s equity from $11.
