Warner Music Group Ends First Day Of Trading With US$15B Market Cap
— 4 June 2020

Warner Music Group Ends First Day Of Trading With US$15B Market Cap

— 4 June 2020
Garry Lu
WORDS BY
Garry Lu

The highly-anticipated Warner Music Group initial public offering finally hit the Nasdaq. Closing its first day of trading at US$30.12 a share, this effectively rounds out the company’s total market cap valuation to US$15.3 billion.

It was announced prior to trading that Warner would set the opening price at around US$25. By opening, it was already steadily climbing to US$27. Of course, it wouldn’t stop climbing until 4 PM.

Suffice it to say, this has certainly been a tremendous win for WMG. Just as a means of comparison, their 2018 revenue amounted to US$4 billion. But the biggest winner here is Head of Access Industries, Len Blavatnik.

RELATED: Joe Rogan Inks An Exclusive Podcast Deal With Spotify… Share Price Surges 11%.

Blavatnik purchased the entirety of WMG for a sum of US$3.3 billion back in 2011. Immediately after, he turned the company private. Yes, you read that right. Although the headline reads “first day of trading”, this isn’t the first time WMG has been traded. The last time it IPO’d, the share price was set at US$17 and decreased to US$16.40 by market close.

Whatever Blavatnik’s gameplan was, however, has clearly paid off in the form of a hefty return. His net worth is now US$7.5 billion fatter. And from where we’re standing, Warner Music Group has a bright future of trading ahead of it.

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Garry Lu
WORDS by
After stretching his legs with companies such as The Motley Fool and the odd marketing agency, Garry joined Boss Hunting in 2019 as a fully-fledged Content Specialist. In 2021, he was promoted to News Editor. Garry proudly retains a blue belt in Brazilian Jiu-Jitsu, black bruises from Muay Thai, as well as a black belt in all things pop culture. Drop him a line at [email protected]

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