Warner Music Group, the world's third-largest record company and music publisher, raised $1.9 billion in the year's largest US IPO to date by offering 77 million shares (100% insider) at $25, within the range of $23 to $26. The company originally planned to offer 70 million shares. At pricing, Warner Music commands a $13.2 billion market cap.
Warner Music Group plans to list on the Nasdaq under the symbol WMG. Morgan Stanley, Credit Suisse, Goldman Sachs, BofA Securities, Citi, and J.P. Morgan acted as lead managers on the deal.
