Universal Music Group shares soar in market debut

© Provided by CNBC Lady Gaga performs during the Pepsi Zero Sugar Super Bowl 51 Halftime Show at NRG Stadium on February 5, 2017 in Houston, Texas.

Universal Music Group shares surged in its stock market debut Tuesday, in Europe’s largest listing of the year so far.

The company behind platinum-selling artists including Lady Gaga and Taylor Swift opened trading at around 25.05 euros ($29.37) per share, more than 35% above the reference price of 18.5 euros per share. It listed on the Euronext Amsterdam stock exchange.

In June, French media group Vivendi won the backing of shareholders for its proposed spin-off of UMG, which is considered its crown jewel. 60% of UMG’s shares will go to Vivendi shareholders.

UMG accounts for around three-quarters of Vivendi’s profits, which has prompted questions about the company’s future strategy, given it will only own a 10% stake in UMG after the listing. A further 20% is owned by Chinese giant Tencent, with 10% owned by billionaire William Ackman’s hedge fund Pershing Square.

UMG is the largest music company in the world, and dominates the music industry as part of the “Big Three” record labels, alongside Warner Music Group and Sony Music.

It owns and runs businesses in more than 60 countries, and is behind other household names in music including Ariana Grande and Queen. Its back catalog also includes iconic artists like Bob Dylan and the Beatles, which were major attraction points for investors.

Internet Explorer Channel Network
News Related

OTHER NEWS

Colonial hill station becomes Malaysia's third biosphere reserve

© Provided by Al Jazeera The funicular railway brought many more visitors to the hill, which is the site of a millions-year-old forest [Supplied/The Habitat] George Town, Malaysia – Dusk ... Read more »

Jets preaching patience, persistence to finally get running game going

Tevin Coleman’s longest run of the season, which also doubled as the Jets’ longest run of the season at that point, came when he burst through the middle of the ... Read more »

Abueva keeps pole position

© STAR/File Abueva keeps pole position MANILA, Philippines — Magnolia forward Calvin Abueva kept pole position in the PBA Best Player of the Conference derby at the end of the ... Read more »

Comelec sees 64 million voters registered

© The STAR/Michael Varcas, file Comelec sees 64 million voters registered MANILA, Philippines — The Commission on Elections (Comelec) expects at least 64 million registered voters at the end of ... Read more »

Coroner accuses NHS of misleading the public with 111 call handlers

© Provided by Daily Mail MailOnline logo A coroner has accused the NHS of duping the public by referring to unqualified call handlers as ‘health advisers’ after blaming them for ... Read more »

How to remove mold from your basement

If you want to know how to remove mold from your basement, this article takes you through the tools you need to get rid of it. According to the Environmental ... Read more »

What to do if your basement is too humid

Basements tend to hold more humidity than other parts of the home, which could make them damp, smelly, and mold-infested. But what is humidity, why does it matter and what ... Read more »

NHS is wasting up to £568m a year on pointless pills

© Provided by Daily Mail MailOnline logo The NHS is wasting up to £568million a year on pills that patients do not need and can leave them with dangerous addictions, ... Read more »

Sony reportedly breaks Nintendo's 33-month streak as PS5 tops monthly U.S. hardware sales

PlayStation has been leading the race against its contemporary Xbox in the next-gen console wars, but this month, the company has come out on top ahead of another gaming giant ... Read more »

New Port Richey business pays tribute to Gabby Petito

PASCO COUNTY, Fla. (WTSP) – The heartbreaking story of Gabby Pettio’s promising life cut short has touched people all over the state of Florida. © Provided by WWSB Tampa Gabrielle ... Read more »

Mel Brooks, 95, to write sequel to 'History of the World'

Mel Brooks, the 95-year-old US comedy icon, is to help write a sequel for his 1981 classic film “A History of The World Part I” as an eight-part series for ... Read more »

Questions mount over push to axe MAHB boss

© Provided by Free Malaysia Today MAHB chief executive Mohd Shukrie Mohd Salleh was reported to have opposed a proposed takeover of Subang airport by a private company. (Facebook pic) ... Read more »

Covid-19 deaths (Oct 19): 72 reported fatalities, total at 27,993

© Malaysiakini (English) COVID-19 | The Health Ministry’s Github data repository reported a total of 72 Covid-19 fatalities yesterday (Oct 18), bringing the cumulative death toll to 27,993. From the ... Read more »

Another 72 Covid-19 deaths reported today in Malaysia as fatalities inch towards 28,000

© Provided by Malay Mail Workers wearing personal protective equipment carry a coffin containing the body of a patient who died from Covid-19 at the Christian cemetery at Fairy Park ... Read more »

Infrared brain treatment could help dementia patients in future, researchers say

Infrared light therapy could have the potential to help people living with dementia, researchers have said. A pilot study using a helmet to beam infrared light into healthy volunteers’ brains ... Read more »

UIDAI to host "Aadhaar Hackathon 2021" from October 28-31

Unique Identification Authority of India (UIDAI) will be hosting a Hackathon titled “Aadhaar Hackathon 2021” targeting the young innovators – who are still at various Engineering institutes and eager to ... Read more »

‘Rail Roko' protest: Shatabdi cancelled, 12 trains diverted

© Provided by The Indian Express FOUR TRAINS, including the Chandigarh-New Delhi Shatabdi Express (12046), were cancelled, and 12 others were diverted, or delayed due to the ‘Rail Roko’ protest ... Read more »

Amit Shah to flag off 'Modi Van' to commemorate 20 years of PM Narendra Modi's life as elected representative

© Provided by Zee News New Delhi: Union Home Minister Amit Shah will flag off ‘Modi Van’ on Tuesday under the ‘Seva hi Sangathan’ programme to commemorate Prime Minister Narendra ... Read more »

Police say a woman was raped on Pennsylvania train while others sat and did nothing: ‘I have no words'

Police say a woman was raped on Pennsylvania train while others sat and did nothing: ‘I have no words’ Several passengers on a moving train in Pennsylvania saw a man ... Read more »

Rapper formerly known as Kanye West is now just Ye

© Provided by Associated Press FILE – In this Feb. 9, 2020, file photo, Kanye West arrives at the Vanity Fair Oscar Party in Beverly Hills, Calif. On Monday, Oct. ... Read more »

Gagal majukan industri padi, dasar tanah ‘berat sebelah' antara kebimbangan berhubung keselamatan makanan

© Provided by MalaysiaNow Walaupun Malaysia baru-baru ini berada di ranking kedua Asia Tenggara selepas Singapura dari segi keselamatan makanan, pakar mengingatkan masalah struktur berkaitan perkara itu yang masih menghambat ... Read more »

Nasib Umno, Ismail dan Zahid terikat pada PRN Melaka

© Provided by Free Malaysia Today © Provided by Free Malaysia Today Kata ketua penyelidik Ilham Centre, Prof Madya Mohd Yusri Ibrahim: “Bayangkan hanya kerana krisis antara beberapa individu dalam ... Read more »

Introducing America's latest hero: Woke Superman

DC Comics has rewritten Superman classics to fit in with the woke times. This week, it was announced that Superman no longer stands for the American way. Instead, it’s “Truth, ... Read more »

Cancel culture: Dave Chappelle and other comedians who have taken sides

As cancel culture becomes more and more ubiquitous in show business, comedians are finding it particularly difficult to ignore. When one’s profession is to take the stage to shake up ... Read more »

Unvaccinated mother dies of COVID-19 complications after giving birth

© Provided by Daily Mail MailOnline logo An unvaccinated mother of three has died of COVID-19 complications after giving birth prematurely, leaving behind her devastated mother and husband who are ... Read more »

Steelers rookie Najee Harris off to record-setting start; first-rounder a force in Pittsburgh's backfield

© Provided by CBS Sports Najee Harris was looking for answers after an underwhelming NFL regular-season debut. The first running back selected in the 2021 draft, Harris gained just 49 ... Read more »

Report: Texans cutting Andre Roberts

© Provided by NBC Sports The Texans went on a signing spree this offseason, loading up with veteran players. Most were on one-year contracts. Returner Andre Roberts signed a two-year ... Read more »

'Totally unexpected:' NASA telescope captures dying star switching on and off

Deep within the cosmos, a fading star’s quiet death was sharply interrupted. Instead of gracefully vanishing into the heavy darkness of space, as stars typically do, it coughed out a ... Read more »

Vaccine Mix-and-Match Approach Poised to Get FDA Clearance

© Bloomberg A Pharmacy Administers Third Doses Of Covid-19 Vaccines (Bloomberg) — The U.S. Food and Drug Administration is poised to clear the use of a Covid-19 booster from a ... Read more »

Ambuklao, Binga, Magat dams still releasing water

© NIA Facebook photo Magat Dam in northern Luzon Three dams in Luzon still had some gates open on Tuesday to release water, PAGASA said. At 6 a.m. on Tuesday, ... Read more »

DOTr bats for increase in PUV passenger capacity in NCR

Passengers travel on a jeepney with seat dividers to ensure social distancing in Manila on July 6, 2020, after thousands of jeepneys hit the road again after over three months ... Read more »

Anti-5G vandals sets alight new Optus tower in exclusive Sydney suburb

© Provided by Daily Mail MailOnline logo An anti-5G vandal has left a trail of charred remains on an affluent suburban street after setting fire to a brand new Optus ... Read more »

Aus Kanye West wird Ye

Eine Richterin in Los Angeles hat dem Antrag auf Namensänderung des Rappers Kanye West zugestimmt. US-Rap-Mogul Kanye West heisst jetzt offiziell nur noch Ye. Eine Richterin in Los Angeles gab ... Read more »

Chinese-North Korean defectors face hardship in South Korea

1 / 5Koreas Ethnic ChineseCho Guk-gyeong speaks during an interview in Gwangyang, South Korea, on Sept. 9, 2021. Abandoned, he feels, by three countries, Cho, a third-generation Chinese immigrant, shows ... Read more »

Everything you need to know about hybrid cars

The definition of a hybrid car is easier to explain than the inner workings of one. In this guide we’ll try and answer all the important questions so that you ... Read more »

A minimalist Sydney home that doubles as a gallery space

© Hannah Blackmore Following the purchase of a minimalist federation home in Sydney’s suburb of Randwick, a lawyer was inspired to start her own art collection. When IT lawyer Catherine ... Read more »

Near-extinct birds released back into wild

Eight critically endangered birds have been released from captivity into the wild to bolster its population after a 90 per cent decline during the past two decades. © PR HANDOUT IMAGE ... Read more »

When in doubt, Morrison can always use two special words: national security

Prime Minister Scott Morrison has brought out the big guns in his fight to swing the Nationals into supporting a 2050 net-zero commitment ahead of the Glasgow climate change summit ... Read more »

Mother of 16yo boy allegedly murdered over pair of headphones breaks silence

© Provided by ABC News Jason Galleghan, 16, died from serious head injuries in August. (Supplied) The mother of a teenage boy who was allegedly killed over a pair of ... Read more »

WA Premier Mark McGowan to keep the border slammed shut for Christmas

© Provided by Daily Mail MailOnline logo Mark McGowan is facing growing pressure to set a date for opening his border to boost his state’s vaccination rates. Western Australia is ... Read more »