WASHINGTON (dpa-AFX) - Warner Music Group Corp. has launched the initial public offering of 70 million shares of its Class A common stock. The initial public offering price is expected to be between $23.00 and $26.00 per share. The company has been approved to list its shares of class A common stock on The Nasdaq Stock Market under the ticker, WMG.
Warner Music Group noted that the offering consists entirely of secondary shares to be sold by Access Industries, LLC and certain related selling stockholders. The company will not receive any proceeds from the offering.
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