6/3/2020, 2:19 PM (Source: TeleTrader)
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Warner Music reveals IPO pricing of $25 per share

Warner Music Group Corp. revealed on Wednesday that the pricing of the initial public offering (IPO) of its stock will be set at $25 per share.

The size of the IPO has been boosted from 70 million to 77 million shares of the company's Class A common stock, which would mean that an amount of $1.925 billion could be raised in the process.

Class A common shares will make their debut at the Nasdaq Stock Market today under the ticker symbol "WMG," the company said, adding that the underwriters, represented by Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC "will have a 30-day option to purchase up to an additional 11,550,000 shares [...] from the selling stockholders."

Breaking the News / MS