Warner Music Group has set its initial public offering (IPO) price at $25 per share. The size of the IPO has been increased from 70 million shares to 77 million shares.
That translates to a $1.925 billion public offering. The IPO initially had a target price of $23 to $26 per share, which at 70 million shares would have reached $1.82 billion on the high end.
After the IPO, Warner Music Group will consist of 510,000,000 total shares. The $25 IPO price values the now-public company at $12.75 billion.
WMG’s stock will begin trading today on the Nasdaq under ticker symbol WMG.