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Warner Music's upsized IPO raises $1.93 bn in biggest US listing of 2020

The company increased the offering to 77 million class A shares at $25 per share, from 70 million shares, valuing it at $12.75 billion

Bs_logoIPO, markets
The deal marks a further sign of recovery for the US IPO market, which was hampered in March by plunging stock prices caused by the COVID-19 pandemic
Reuters
1 min read Last Updated : Jun 03 2020 | 6:54 PM IST

Warner Music Group, the world's third-largest recording label, on Wednesday raised $1.93 billion in an upsized initial public offering, the biggest US listing so far in 2020.

The company increased the offering to 77 million class A shares at $25 per share, from 70 million shares, valuing it at $12.75 billion.

ALSO READ: Microsoft launches new programme to empower agritech startups in India


The deal marks a further sign of recovery for the US IPO market, which was hampered in March by plunging stock prices caused by the Covid-19 pandemic.

 

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Topics :CoronavirusUnited Statesstock market listingIPOs

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