(ABM FN-Dow Jones) Universal Music Group has based the issue price of its IPO in Amsterdam at EUR 18.50 per share. This was announced on Monday by the stock exchange operator Euronext.
Vivendi brings 1.8 billion shares to the Amsterdam stock exchange, valuing the record company at approximately 33.5 billion euros.
As of Tuesday’s first day of trading, Pershing Square Holdings and Vivendi each still own a 10 percent stake in Universal, an indirect conglomerate led by Tencent, which holds a 20 percent stake.
In August, Universal said it was targeting revenue growth of more than 10 percent this year and that it is EBITDA growth of more than 20 percent.
Source: ABM Financial News
From Beursplein 5, the editors of Financial news from ABM keep a close eye on developments on the stock exchanges, and the Amsterdam stock exchange in particular. The information in this column is not intended as professional investment advice or as a recommendation to make.