Shares of Universal Music Group rose more than a third in the first minute of trading on Tuesday, following an initial public offering (IPO).
Ten minutes after the trading session, shares were trading at .6 25.61 on the Euronext Amsterdam Stock Exchange. The group jumped 38% on Monday to its reference price of. 18.50. With these valuable shares, the group has a market capitalization of close to $ 46 billion (€ 39 billion).
As the world’s largest label group, not to mention the second largest music publisher (according to music and copyright), UMG’s resources are more than impressive. The company has recently spent hundreds of millions of dollars on talent investments বিশেষ especially the 300 30,000 million acquisition of Bob Dylan’s publication catalog-a move that has become obsolete. In fact, a JPMorgan report said: “If we hadn’t invested in UMG before double-digit industrial growth for a decade, we would have been concerned.”
When the stage for an IPO was set in 2018 with industry turmoil and Chinese media giant Tencent’s 20% acquisition of the company (and billionaire Bill Ekman’s 10% acquisition last month) continuing, parents couldn’t ask Vivendi about the company’s spinoff from the recording industry this week. For a more inviting welcome mat than the sturdy mid-year report. The United States, which reported a 2% increase in revenue over the first six months of 2021-year after year the number is heavily affected by the epidemic মূলত is essentially the seventh year of global growth.
Daniel Ives, MD of equity research at Wedbush Securities, said, “Many people left the industry a decade ago, especially with the piracy and many problems facing the music industry.” “Now they smell like roses. When you look at the overall streaming with Universal, Warner Music and Apple Music and Spotify, it was a massive change that would be very little predictable. ”
Last year, the বাণিজ 12.2 billion in U.S. trade accounted for more than half of the 21 21.6 billion in global revenue, as reported by the International Federation of Phenographic Industries, so the RIAA report set the stage for the world’s largest music company to emerge from Bibendi. Parents Since 2001, a move that gives investors a pure play opportunity to capitalize on the pace of music.