Warner Music Group (WMG) – one of the largest recording companies in the global music industry – is continuing on its quest to go public with an IPO. They’ve been approved to list theirs on NASDAQ’s stock exchange as of May 7th.
In their updating filing with the SEC, they shared:
“We have been approved to list our Class A common stock on Nasdaq. We and the selling stockholders negotiated the initial public offering price per share with the representatives of the underwriters and, therefore, that price may not be indicative of the market price of our Class A common stock after this offering.”
The company originally shared their IPO intentions back in February, though they were put on hold for a period of time due to COVID-19 and the resulting market uncertainty. There have also been rumors swirling around by The Hollywood Reporter – ironically, released the same day as the IPO news – that the Saudi Arabian Public Investment Fund (PIF) was in talks of purchasing WMG. Sources close to the situation have shared immense doubt over this.
Now that Warner’s approval has been solidified by NASDAQ, it’s only a matter of time before the IPO happens. They will be listed as WMG on NASDAQ’s ticker.
WMG is home to some of the most well-known artists in the world, including Ed Sheeran, Madonna, Metallica, David Guetta, Twenty One Pilots and many more.