Warner Music Group priced its initial public offering at $25 per share, valuing the record label, which represents the likes of Ed Sheeran, Bruno Mars …
Warner Music Group priced its initial public offering at $25 per share, valuing the record label, which represents the likes of Ed Sheeran, Bruno Mars and Cardi B., at an eye-popping $12.75 billion.
The music giant headed by Chief Executive Steve Cooper, which is the parent of labels including Atlantic Records, Warner Records and Elektra Records, said its shares will start trading on Nasdaq under the symbol “WMG” on Wednesday, kicking off one of the biggest IPOs of the year.
All of the shares being sold are being offered by billionaire Len Blavatnik’s holding companies Access Industries and AI Entertainment Holdings, which will receive all the revenue from the $1.925 billion stock sale with none of the proceeds going to Warner Music.
