Home port Lady Gaga and Taylor Swift swing at entrance on Damrak

Home port Lady Gaga and Taylor Swift swing at entrance on Damrak

After fifteen minutes of trading, the stock price is around 25.50 euros, 38 percent above the reference price of 18.50 that parent company Vivendi released Monday evening.

A lot of discussion preceded the arrival of UMG on the Dutch stock market. The French media group Vivendi has been under pressure for some time to let its shareholders benefit from the value of UMG, which also owns rights to Beatles songs, for example.

When going public, Vivendi plans to distribute 60 percent of the shares in the label among its own shareholders. Those shares can then be traded by Vivendi shareholders.

Many stars including Billie Eilish are under contract with Universal Music Group.

ⓒ ANP/HH

As the music industry recovers from a relatively difficult period for decades, Vivendi has recently benefited from a boom in music streaming subscriptions. As a result, the value of his early music collection and that of a number of stars such as Swift, Drake, U2 and Post Malone has increased. The IPO is intended to help UMG attract more investors in the United States, Europe and Asia.

Vivendi will retain a limited stake in the label after Tuesday. Earlier this year, American billionaire Bill Ackman took a 10 percent stake in UMG. He paid billions of dollars for that. There are also pieces that belong to a consortium led by the Chinese tech company Tencent.

Home port Lady Gaga and Taylor Swift swing at entrance on Damrak | Financial
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