Warner Music Group wants to go public on the New York Stock Exchange, again. On February 06 the Los Angeles-based company, which represents artists including Ed Sheeran and Cardi B, filed to return to the public markets with an IPO. The exact date in which WMG will be debuting its share to the public is yet to be set as well as the number of shares that will be released. According to sources, this IPO is not being used to raise money for Warner Music but rather provide liquidity for its investors.
The major would join rivals Vivendi Universal and Sony Corporation on the NYSX. And latter also trading on the Tokyo Stock Exchange. Warner Music’s revenues have grown steadily in the last several years, according to the IPO filing. Sales were $4.48 billion in fiscal 2019, up from $4.01 billion the year before and $3.58 billion in 2017.