Universal Music Group’s long-awaited debut on the stock market doesn’t officially launch until Tuesday morning in Europe, but the process just began with Euronext announcing that the technical reference price for UMG’s shares is around $21.70 per share (€18.50), which would place its value at around $39 billion.
The price, which was communicated to Euronext by Vivendi, UMG’s current parent company, was first reported by Reuters. UMG’s parent company Vivendi is preparing to spin off 60% of Universal on the Euronext Amsterdam stock exchange on Tuesday.
However, that number could change dramatically one the market opens: such reference prices are guides. UMG is poised for a valuation of as much as $48 billion after the curtain
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