Universal Music Group Plans US Stock Exchange Listing by 2025, Led by Pershing Square Initiative
Pershing Square Holdings plans to list some of its Universal Music Group (UMG) shares on the US stock exchange by September 15, 2025. The investment firm currently holds a 7.6% stake in UMG, valued at approximately $3.48 billion.
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UMG has confirmed it will support the listing process through an underwritten offering, though any decisions beyond contractual obligations will be determined by UMG's Board of Directors based on maximizing value for all shareholders.
This development follows Pershing Square chief Bill Ackman's November 2024 call for UMG to de-list from the Euronext Amsterdam exchange and relocate its legal headquarters to the United States. UMG has traded on the Amsterdam exchange since separating from Vivendi in 2021.
While UMG agreed that Pershing could use its holdings for a US listing, the company specified that this would require selling at least $500 million in UMG shares as part of the listing process. Pershing Square has already received approval to de-list its own stock from the Euronext Amsterdam exchange effective January 31, while maintaining its London listing.
Multiple exchange listings are common among public companies, offering broader investor access and risk diversification across different markets.
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