Universal Music Group publishes prospectus for planned $39 bln listing
PARIS, Sept 14 (Reuters) – Vivendi’s Common Music Group, the world’s largest music firm whose artists embrace Girl Gaga and the Rolling Stones, revealed its prospectus on Tuesday earlier than a 33 billion euro ($39 billion) inventory market flotation subsequent week.
Common’s itemizing, which can full its separation from Vivendi, entails the distribution of 60% of its shares to Vivendi’s shareholders, together with prime investor Vincent Bollore.
Common’s shares will begin buying and selling on Euronext’s Amsterdam inventory trade on Sept. 21, with a technical reference worth for shares anticipated on Sept. 20, the music group stated.
Common is benefiting from a music business rebound, underpinned by booming streaming revenues but additionally a current surge in gross sales of vinyl information and CDs.
Common, which competes with Sony Music and Warner Music Group as the largest of the “huge three” recording labels, represents stars reminiscent of Taylor Swift and Justin Bieber.
Common has registered six consecutive years of gross sales development, reporting 1.49 billion euros in core earnings in 2020 on 7.43 billion euros in gross sales.
($1 = 0.8464 euros)
Reporting by Sudip Kar-Gupta, Sarah White and Marc Angrand; Modifying by Louise Heavens and Edmund Blair
: