Shares in Universal Music Group surged by more than a third in the first minutes of trading on Tuesday, following an initial public offering (IPO).
Ten minutes into the trading session, shares were changing hands at €25.61 on the Euronext Amsterdam stock exchange. That is a 38% leap compared with the €18.50 figure that the group announced on Monday as its reference price. With the shares at this valued, the group has a market capitalization close to $46 billion (€39 billion).
As the world’s largest label group, not to mention the second largest music publisher (according to Music & Copyright), UMG’s assets are more than impressive. The company recently
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