Universal Music Group Valued at $39 Billion Before Tuesday’s IPO

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

→ Continue reading at Variety

Similar Articles

Advertisment

Most Popular

‘4400’ Reappears as CW Drama Focused on Character Rather Than Sci-Fi Clues

When executives at CBS Studios decided to dust off the not-too-distant IP of “The 4400,” a four-season drama about a group of people who...

‘Josep’ Review: A Picture Is Worth a Thousand Words in This Animated Internment Camp Story

One of several animated biopics about to segue from the festival circuit to the big screen, “Josep” is a slim but engaging tribute to...

Stephen Colbert’s ‘Late Show’ Will Launch Podcast Counterpart

If you didn’t watch last night’s “Late Show With Stephen Colbert,” you’ll still be able to listen to it. The CBS late-night program will...