Warner Music Group Corp. undefined priced its initial public offering on Wednesday at $25 a share, the higher end of its $23 to $26 price range, and...
Warner Music Group Corp. WMG, priced its initial public offering on Wednesday at $25 a share, the higher end of its $23 to $26 price range, and increased the size of the deal to 77 million shares from an original 70 million shares. The company raised $1.
The deal is the biggest IPO of the year to date. Warner Music is the parent of record labels including Atlantic Records, Warner Records and Elektra Records, representing artists Ed Sheeran, Bruno Mars, Cardi B, Twenty One Pilots, Lizzo and Katy Perry. Morgan Stanley, Credit Suisse and Goldman Sachs are lead underwriters, with BofA Securities, Citgroup and J.P. Morgan acting as joint bookrunners. Another 23 banks are acting as co-managers.
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