newswire, breaking stock news, business news and commentary for music sector

Tuesday, May 10, 2005

Warner Music IPO Tomorrow

On Wednesday May 11th Warner Music Group launches their IPO (under the symbol WMG) with a pps below the initially suggested range of $22 to $24. Insiders are throwing around a $19 share price and there has also been talk of a reduction in the previously announced 32.6 million share deal size, to 27.2 million shares. Warner Music, who is $2.5 billion in debt, hopes to raise $517 million from the IPO.

No comments: music and entertainment news