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Universal Music Group share price, valuation indication – The Hollywood Reporter

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As French media conglomerate Vivendi prepares to part ways with Universal Music Group (UMG) on Tuesday and the music major’s stock begins trading on Amsterdam’s Euronext stock exchange, the benchmark price of its action was fixed Monday.

Vivendi, led by CEO Arnaud de Puyfontaine, had long planned the listing of Taylor Swift and Lady Gaga’s house label to take advantage of the rebound in the music business amid the growth of streaming. A Euronext notice on Monday said the company’s benchmark price, an indication or guide for investors, was set at 18.50 euros ($ 21.70) per share.

With more than 1.813 billion shares in circulation, the musical powerhouse would have at this price a market valuation of approximately 33.5 billion euros (39.3 billion dollars).

The company previously said that UMG, led by Chairman and CEO Lucian Grainge, would have an estimated net worth of 33 billion euros ($ 39 billion). Its market listing is the highest in Europe to date in 2021.

Vivendi to distribute 60% of UMG’s capital to its shareholders after previously selling a 20% stake in the music company to a consortium led by Chinese internet giant Tencent and up to 10% to investor Bill Ackman . The company said it would keep the remaining 10 percent for a minimum period of two years.

Vincent Bolloré, Vivendi’s first investor who spearheaded the musical spin-off, will hold around $ 7 billion in UMG shares after market entry, the company revealed in a recent prospectus. The separation of UMG should lead to a decline in Vivendi shares.

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