Warner Music’s IPO back on as Covid-19 sees streaming surge
The group plans to sell 70-million shares of its class A common stock, raising as much as $1.8bn
26 May 2020 - 17:00
Paris — Warner Music Group has re-ignited its plans for an initial public offering (IPO), becoming the latest music company to cash in on a streaming boom that’s only accelerated in the coronavirus era.
Backed by billionaire Leonard Blavatnik, shareholders of the New York-based record group behind artists such as Cardi B, Ed Sheeran and Bruno Mars, plan to sell 70-million shares of its class A common stock priced between $23 and $26 a share — raising as much as $1.8bn — according to a regulatory filing on Tuesday...
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