- Warner Music Group Corp’s WMG.O stock popped 8% on its Nasdaq debut on Wednesday, after the world’s third-largest recording label sold shares in its $1.9-billion initial public offering towards the higher end of its target.
“We concluded that there was sufficient market momentum. Without ever trying to time the market this looked like a good time to go,” Warner Chief Executive Stephen Cooper said in an interview. The IPO equips Warner, which has been acquisitive in recent years, with public stock to potentially make further acquisitions, Cooper said.
Warner has seen a 12% jump in its recorded music streaming revenue for April, fueled by new releases including Grammy-winning artist Dua Lipa’s latest album, “Future Nostalgia.”
Warnermusic plans to raise $1.93 billion in the biggest U.S. listing so far in 2020.
HAHAHA. Yep, sure. Let us all invest into a dying industry that is undercut by streaming services, forever arguments on musicians not being paid and no innovations within the company to expand into the 21 century.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Warner Music Group prices IPO at $25 a share to raise $1.925 billionWarner Music Group Corp. undefined priced its initial public offering on Wednesday at $25 a share, the higher end of its $23 to $26 price range, and... How do they plan to make money with concerts shut down?
Source: MarketWatch - 🏆 3. / 97 Read more »
Warner Music Group delays pricing of IPO: Media reportsWarner Music Group Corp. delayed the pricing of its planned initial public offering on Tuesday, as the music industry took a pause from regulator activity to express solidarity with the protesters taking a stand after the death of George Floyd in Minnesota last week, according to media reports on Wednesday. The company asked its bankers to postpone the pricing of the deal until early Wednesday, the FT reported, citing people familiar with the matter. The deal is expected to be the biggest IPO of the year to date, with the parent of record labels including Atlantic Records, Warner Records and Elektra Records, representing artists Ed Sheeran, Bruno Mars, Cardi B, Twenty One Pilots, Lizzo and Katy Perry, expected to sell 70 million shares priced at $23 to $26 each to raise up to $1.82 billion. Morgan Stanley, Credit Suisse and Goldman Sachs are lead underwriters, with BofA Securities, Citgroup and J.P. Morgan acting as joint bookrunners. Another 23 banks are acting as co-managers. The company has applied to list on Nasdaq under the ticker symbol "WMG."
Source: MarketWatch - 🏆 3. / 97 Read more »
Warner Music Group Reveals Pricing of IPOWarner Music Group has announced the pricing of its initial public offering of 77,000,000 shares of its Class A common stock at a public offering price of $25.00 per share. The size of the IPO was…
Source: Variety - 🏆 108. / 63 Read more »
Warner Music Group Shares Up 20% After First DayShares in the Warner Music Group were up 20.5% on the NASDAQ stock exchange at the close of trading today (June 3), its first day on the market as a public company under Len Blavatnik’s Access Industries. I follow back immediately I do have a very small question. Is this the world we dreamed of? DAY 1
Source: billboard - 🏆 112. / 63 Read more »
Warner Music Prices IPO at $25 Per Share, Valuing Company at $12.75 BillionManagement of the music major is 'indicating a significant positive inflection in margins,' says one analyst, but 'the majority of investors we speak with are skeptical.'
Source: THR - 🏆 411. / 53 Read more »
WSJ News Exclusive | Warner Music, ZoomInfo Poised to Boost IPO MarketThe burst of activity comes after months of relative quiet, with potential issuers scared away by the coronavirus pandemic and related turmoil. The issues are expected to raise $2.5 billion combined if the shares price at the midpoints of their target ranges. Is that Beyonce?
Source: WSJ - 🏆 98. / 63 Read more »