By Katherine Hamilton
Universal Music Group filed for a public offering in the U.S.
The Netherlands-based music conglomerate said Monday it had filed a confidential registration statement with the Securities and Exchange Commission proposing the offering.
UMG won't receive any proceeds from the sale of ordinary shares by the selling shareholders, it said. The number of shares and price range for the offering haven't yet been determined.
UMG, which owns the record label behind Taylor Swift and Lady Gaga, currently trades on the Euronext Amsterdam exchange and is up 10% this year.
UMG and Bill Ackman's Pershing Square have an agreement that Pershing Square can request UMG to list in the U.S. if it sells at least $500 million in stock as part of the offering. In January, UMG said Pershing Square had exercised its right and the music company aimed to carry out an offering of certain Pershing-owned shares by September. Ackman resigned from his role on UMG's board of directors in May.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
July 21, 2025 18:20 ET (22:20 GMT)
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