Universal Music Group confidentially files for US stock market listing
The firm will not receive any proceeds from the sale, UMG said in a statement on Tuesday.
'The number of ordinary shares to be offered and the price range for the proposed offering have not yet been determined,' it added. The listing also remains subject to review by the SEC.
The world's biggest music company, which represents artists like Taylor Swift, Billie Eilish, and Lady Gaga, is already listed in Amsterdam and has a stock market valuation there of almost €50 billion.
The firm is both American and Dutch, holding its corporate headquarters in Hilversum, the Netherlands, and its operational headquarters in Santa Monica in the US state of California.
UMG said in January that it would plan for the US listing after pressure from major hedge fund investor Pershing Square.
Billionaire Bill Ackman, who leads Pershing Square, argued that a listing in the US would substantially boost UMG's value.
Despite a dip caused by Trump's tariffs, US stock markets are now enjoying a rebound with the Nasdaq and the S&P 500 closing at record highs on Monday.
The S&P 500 rose 0.1% and edged past its all-time high set last Thursday, the Nasdaq composite added 0.4% to its own record, while the Dow Jones Industrial Average dropped by less than 0.1%.
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Universal Music Group confidentially files for US stock market listing
Universal Music Group (UMG) has submitted a confidential application with the Securities and Exchange Commission (SEC) to sell its shares in the US. The firm will not receive any proceeds from the sale, UMG said in a statement on Tuesday. 'The number of ordinary shares to be offered and the price range for the proposed offering have not yet been determined,' it added. The listing also remains subject to review by the SEC. The world's biggest music company, which represents artists like Taylor Swift, Billie Eilish, and Lady Gaga, is already listed in Amsterdam and has a stock market valuation there of almost €50 billion. The firm is both American and Dutch, holding its corporate headquarters in Hilversum, the Netherlands, and its operational headquarters in Santa Monica in the US state of California. UMG said in January that it would plan for the US listing after pressure from major hedge fund investor Pershing Square. Billionaire Bill Ackman, who leads Pershing Square, argued that a listing in the US would substantially boost UMG's value. Despite a dip caused by Trump's tariffs, US stock markets are now enjoying a rebound with the Nasdaq and the S&P 500 closing at record highs on Monday. The S&P 500 rose 0.1% and edged past its all-time high set last Thursday, the Nasdaq composite added 0.4% to its own record, while the Dow Jones Industrial Average dropped by less than 0.1%.
