RUMOR MILL
Wednesday, June 3, 2020
WMG CLOSES AT $30 ON IPO'S DAY ONE
Warner Music Group closed above $30 a share on its first day of trading on the Nasdaq market today. Introduced at $25 per share, the stock rose more than 20% on day one of its IPO.
The largest IPO of the year, the company emerged from day one with a valuation over $15b after closing at $30.12.
WMG had upped its offering by 7m shares to 77m Class A shares. The offering consists entirely of secondary shares to be sold by Len Blavatnik’s Access Industries. Underwriters have a 30-day option to purchase up to an additional 11.55m shares from the selling stockholders.
HIPGNOSIS BOARD APPROVES UPPED BLACKSTONE BID
But it ain't over till it's over. (4/29a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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JAMES KING: THE HITS INTERVIEW (PART ONE)rumor mail
