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


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.



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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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