Warner Music strikes a chord in $1.9 billion U.S. IPO
(Reuters) – Warner Music Group Corp WMG.O said on Wednesday it raised $1.93 billion in the biggest U.S. initial public offering (IPO) so far in 2020, with the world’s third-largest recording label selling more shares than originally planned.
The headquarters of Warner Music Group is pictured in Burbank, California August 5, 2008. REUTERS/Fred Prouser
The deal marks a further sign of recovery for the U.S. IPO market, which was hampered in March by plunging stock prices caused by the COVID-19 pandemic.
“We concluded that there was sufficient market momentum. Without ever trying to time…