Taylor Swift and Drake music giant files to list on US stock market
UMG said in its statement that it has filed a confidential statement with the US financial markets regulator, Securities and Exchange Commission (SEC).The potential public offering remains subject to review by the SEC, it added.The company did not reveal the size of the planned US offering or how much it could raise.Confidential filings allow firms to keep information private while engaging with regulators and assessing investor appetite for a share sale before disclosing details publicly.Billionaire investor Bill Ackman's hedge fund Pershing Square, which is one of the biggest shareholders of UMG, has previously pushed the firm to list in the US.In January, Mr Ackman posted on X that a listing in the US would push up UMG's value."We also believe the US listing will greatly improve trading liquidity for the shares," he said.
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