The world’s largest document firm, Common Music Group (UMG), made its debut on the Dutch inventory market and was a hit. When the market opened, the worth had risen by dozens of proportion factors from the reference worth.
UMG is a part of the French media group Vivendi, which has been below strain to advertise curiosity in music for a while. Privatization. UMG is the label of Swift, Drake, U2 and Put up Malone.
Vivendi will distribute 60% of the model’s shares to its shareholders on the time of the IPO.
After Tuesday, Vivendi will nonetheless maintain restricted shares within the model. Earlier this yr, US billionaire Invoice Ackman (Invoice Ackman) held a ten% stake in UMG.