’s shares jumped in their stock market debut on Amsterdam’s Euronext exchange on Tuesday.
As of 9:10 a.m. Amsterdam time, the stock was trading at 25.74 euros , giving the company a market capitalization of 46.67 billion euros , after opening at 25.25 euros and going as high as 25.775 euros. Late Monday, the stock’sat 18.50 euros per share, signaling a market value of around 39 billion euros. Compared to that reference price, the stock was up 39 percent shortly after 9 a.m. local time.
With the music powerhouse’s market listing, French media company Vivendi is cashing in on a bounceback of the music sector thanks to a boom in streaming revenue. With the music unit now trading separately,Related Stories
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Universal Music Group shares surge on stock market debutUniversal Music Group's shares surged at the start of trading on Tuesday, as owner Vivendi spun off the record label in the biggest European listing of the year.
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Universal Music valued around $39 billion ahead of stock market debutUniversal Music Group, the business behind singers such as Lady Gaga, Taylor Swift and The Weeknd, is valued at around 33.5 billion euros ($39.30 billion) ahead of the record label's stock market debut in Amsterdam on Tuesday.
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