Warner Music forges ahead with market debut despite COVID-19 gloom

This translation has been automatically generated and has not been verified for accuracy.Warner Music Group said on Thursday it received an approval to list its shares on the Nasdaq stock exchange in what could be a rare initial public offering after the COVID-19 pandemic forced a number of companies to put their plans on hold.

Warner, which filed for an initial public offering in February, was bought by billionaire Len Blavatnik’s investment group, Access Industries, for about $3.3 billion in 2011.The world’s third-largest music recording label had in March delayed it plans to kick off the debut - set to be one of the year’s larger IPOs, raising in excess of $1 billion, Reuters reported, citing people familiar with the matter.

Warner said in a regulatory filing the virus outbreak had hurt physical revenue streams, citing disruptions in manufacturing and physical supply chains, including mandated closure of physical retailers.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Buy energy’: BMO’s Brian Belski bets on big market rally in CanadaBMO Capital Markets’ Brian Belski talks about the state of the Canadian stock market and energy markets amid COVID-19 $500 says this tweet won't age well ;) Buy energy? But Dizzy Lizzy just said oil is dead? Dizzy Lizzy can't be wrong... Can she? Good analysis. Solid. Caveat: To achieve same, complete realignment of Canadian federation needed, divided into 5 regions with trade agreements between provinces. Feds shunted to side. Provinces make own supplemental arrangements via USMCA. Alberta, e.g with US energy corridor.
Source: nationalpost - 🏆 10. / 80 Read more »