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(Reuters) – Warner Music Group said on Tuesday it expects to raise up to $1.82 billion in its initial public offering on the Nasdaq stock exchange, as some companies gingerly test investor appetite after the COVID-19 pandemic put many debuts on hold.
The recording label, home to artists including Cardi B, Ed Sheeran and Bruno Mars, expects its offering of 70 million shares to be priced between $23 and $26 per share, valuing it at about $13.26 billion.
The world’s third-largest music recording label had in March delayed its plans to kick off the debut, set to be one of the year’s bigger IPOs.
Ed Sheeran. (Photo by Luigi Rizzo/Pacific Press/LightRocket via Getty Images)
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(Reporting by Noor Zainab Hussain in Bengaluru and Joshua Franklin in New York; Editing by Arun Koyyur)
