Universal Music Group Files for US Public Offering

Universal Music Group (UMG) has confidentially filed a draft registration statement with the U.S. Securities and Exchange Commission to pursue a public offering on a U.S. stock exchange, marking a significant step toward a dual listing alongside its current trading on Amsterdam's Euronext. The offering, which will involve the sale of shares owned by Pershing Square Holdings, will not result in proceeds going to UMG itself, as the shares will be sold by existing shareholders. The number of shares and pricing details remain undecided, and the offering is subject to SEC review and market conditions. This move fulfills a prior agreement with Pershing Square, whose hedge fund is among UMG's largest shareholders, and who has pushed for a U.S. listing after de-listing Pershing Square shares from Amsterdam. Pershing Square plans to sell a significant stake in UMG, and the listing is targeted for completion by September 2025. UMG, known for representing high-profile artists like Taylor Swift and Lady Gaga, continues to maintain its global market presence amid these financial maneuvers.