Warner Music Group IPO
Updated: Jun 26, 2020
Warner Music Group went public. While some IPOs allow a company to re-invest the cash in their business, this one was just about freeing up some capital for WMG’s parent company, Access Industries, the private equity group led by billionaire Len Blavatnik. According to theWall Street Journal,Chinese internet giant Tencent is making a $200 million investment. That would represent roughly 15% of the total shares on offer, and a 1.5% stake in WMG.