Universal Music Group is officially a publicly traded company.
The world’s biggest rights-holder listed on the Euronext Amsterdam Stock Exchange this morning, opening with a €25.25 ($29.63) share price, which translates to a valuation of €46.3 billion or $54.3 billion.
The reference price of Universal Music Group shares was set at €18.50 ($21.70) per share by former parent company Vivendi yesterday, valuing UMG at €33.5 billion (approx. $39bn).
Universal Music Group Chairman and CEO Sir Lucian Grainge, and members of the corporate executive team, sounded the gong live from UMG’s Santa Monica HQ to announce the market opening for Universal Music Group on the Euronext Amsterdam Stock Exchange (see below).
During this traditional gong ceremony, the newly listed company was welcomed to Euronext by Simone Huis in ‘t Veld (CEO Euronext Amsterdam) and René van Vlerken (Head of Listing Euronext Amsterdam).
The listing of Universal Music Group on Euronext Amsterdam follows the earlier announced intention by Vivendi to spin out 60% of UMG shares.
Subsequent to the listing, UMG’s Vivendi now owns just 10% of UMG, while a Tencent-led Consortium owns 20%.
Pershing Square Holdings Ltd also owns 10%, and French businessman ex-Vivendi Chairman Vincent Bolloré’s ‘Bolloré Entities’ owns 18.0%.
“We offer our thanks to the team at Euronext Amsterdam for their work on this listing and look forward to a great partnership together.”
Sir Lucian Grainge
Commenting on the launch of the listing, Sir Lucian Grainge, Chairman and CEO of UMG, said: “Today’s listing marks an exciting milestone in UMG’s storied history, reflecting our position as the world’s leading music-based entertainment company and our deep commitment to our amazing artists, songwriters and partners.
“We offer our thanks to the team at Euronext Amsterdam for their work on this listing and look forward to a great partnership together.”Music Business Worldwide
Denial of responsibility!NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
