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Warner Music forges ahead with market debut despite COVID-19 gloom

Posted 3 years ago

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Media
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$1 billion
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Warner Music Group said on Thursday it received an approval to list its shares on the Nasdaq stock exchange in what could be a rare initial public offering after the COVID-19 pandemic forced a number of companies to put their plans on hold. The recording label said on Thursday it had been approved to list its Class A common stock under the symbol "WMG". Warner Music Group which filed for an initial public offering in February, was bought by billionaire Len Blavatnik’s investment group, Access Industries, for about $3.3 billion in 2011. The world’s third-largest music recording label had in March delayed it plans to kick off the debut - set to be one of the year’s larger IPOs, raising in excess of $1 billion, Reuters reported, citing people familiar with the matter.

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