KEY TAKEAWAYS
- Universal Music Group, the company behind stars like Billie Eilish and Taylor Swift, has filed confidentially to go public in the U.S., the latest company to test a revival in the IPO market.
- The group didn’t disclose how many shares would be sold or the price range of its prospective offering.
- Shares in the company, which is based in the Netherlands and trades on the Euronext Amsterdam exchange, are up 10% so far this year.
Universal Music Group, the company behind stars like Billie Eilish and Taylor Swift, has filed confidentially to go public in the U.S., and is the latest to test a revival in the IPO market.
The group didn’t disclose how many shares would be sold or the price range of its prospective offering. The confidential filing with the U.S. Securities and Exchange Commission marks the start of its listing process.
Shares in the company, which is based in the Netherlands and trades on the Euronext Amsterdam exchange, are up 10% so far this year. The music group said it won’t be receiving any proceeds from share sales by its shareholders.
Universal Music Group is going public at a time when stock markets are booming, with the S&P 500 (SPX) and tech-heavy Nasdaq Composite (IXIC) closing Monday at record highs, and recent listings have outperformed.
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