Universal Music confidentially files for US listing
NEW YORK - Universal Music Group, the world's biggest music label, disclosed on July 21 that it had confidentially filed for a US listing.
Universal Music, whose primary listing is in the Netherlands, did not reveal the size of the US offering or how much it was planning to raise.
The company was valued at about 49.65 billion euros (S$74.3 billion) based on its July 21 closing price on the Dutch exchange, according to LSEG data. The stock is up about 10 per cent this year.
Billionaire Bill Ackman-led Pershing Square, one of the major stockholders in Universal Music, had previously pushed the company to list its shares in the United States.
The Netherlands-based label's roster of stars includes Taylor Swift, Billie Eilish, Drake, The Weeknd, Ariana Grande, and Harry Styles, according to its website.
Companies are lining up to list their shares in the United States to take advantage of a strong rebound in the country's equity markets following a brief lull due to uncertainty surrounding President Donald Trump's tariff policies.
Confidential filings allow companies to keep financial and strategic information private while engaging with regulators and assessing investor appetite ahead of public disclosure. REUTERS
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