Warner New music Team announced Tuesday that it is transferring forward with its IPO, advertising 13.seven% of its popular stock at $23 to $26 a share.
The IPO selling price values the L.A.-primarily based organization at up to $13.three billion, showing optimism in the music business, which has transformed alone by embracing the streaming revolution.
The organization, which signifies artists such as Ed Sheeran and Cardi B, is scheduling to present 70 million shares of its popular stock at the launch of its IPO. A day has not still been announced. Warner New music Team declined to comment.