Warner Music Group has officially launched its initial public offering, with 70,000,000 shares of its Class A common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission. The initial public offering price is expected to be between $23.00 and $26.00 per share. The offering consists entirely of secondary shares to be sold by Access Industries, LLC and certain related selling stockholders.
The underwriters will have a 30-day option to purchase up to an additional 10,500,000 shares of Class A common stock from the selling stockholders. Warner Music will not receive any proceeds from the offering.
The company has been approved to list its shares of Class A common stock on the Nasdaq stock market under the ticker symbol “WMG.”
