77 million shares of Class A common stock will have a public offering price of $25 per share
Warner Music Group has set its initial public offering (IPO) price at $25 per share. The size of the IPO has been increased from 70 million shares to 77 million shares.
That translates to a $1.925 billion public offering. The IPO initially had a target price of $23 to $26 per share, which at 70 million shares would have reached $1.82 billion on the high end.
After the IPO, Warner Music Group will consist of 510,000,000 total shares. The $25 IPO price values the now-public company at $12.75 billion.
Also Read:Former Warner Music Group CEO Edgar Bronfman Jr. Named FuboTV Executive Chairman
WMG’s stock will begin trading today on the Nasdaq under ticker symbol WMG. The U. S. stock markets open today at 9:30 a.
