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    UMG   NL0015000IY2

UNIVERSAL MUSIC GROUP N.V.

(UMG)
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Universal Music Group's Reference Price Is Set at EUR18.5

09/20/2021 | 10:59am EDT

By Olivia Bugault

The reference price for Universal Music Group's shares has been set at 18.5 euros ($21.7) apiece, stock market operator Euronext NV said Monday, ahead of the company's trading debut in Amsterdam, Netherlands on Tuesday.

At that price, with 1.8 billion shares outstanding, the world's largest music company--which is being spun off from French media conglomerate Vivendi SE--would have a valuation of about EUR33.5 billion, equivalent to $39.3 billion.

Reference prices typically don't indicate how the stock will trade but act as a guide to inform the public of past private trading activity.

When UMG starts trading, Pershing Square Holdings Ltd. and Vivendi will both hold a 10% stake in the company, while a conglomerate led by Tencent Holdings Ltd. will have a 20% stake. The rest will be distributed to Vivendi's shareholders.

UMG said in August that it was targeting revenue growth of more than 10% this year, and that it was expecting earnings before interest, taxes, depreciation, and amortization to grow more than 20%.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

09-20-21 1259ET

Stocks mentioned in the article
ChangeLast1st jan.
EURONEXT N.V. 1.31% 100.3 Real-time Quote.21.87%
UNIVERSAL MUSIC GROUP N.V. -0.06% 24.75 Real-time Quote.0.00%
VIVENDI SE 1.27% 11.14 Real-time Quote.-57.77%
All news about UNIVERSAL MUSIC GROUP N.V.
10/08UNIVERSAL MUSIC : Gets a Sell rating from Barclays
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10/01UNIVERSAL MUSIC : JP Morgan raises its recommendation from Sell to Buy
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More news
Analyst Recommendations on UNIVERSAL MUSIC GROUP N.V.
More recommendations
Financials
Sales 2021 8 202 M 9 514 M 9 514 M
Net income 2021 1 093 M 1 268 M 1 268 M
Net Debt 2021 1 871 M 2 171 M 2 171 M
P/E ratio 2021 41,5x
Yield 2021 1,22%
Capitalization 44 881 M 52 066 M 52 062 M
EV / Sales 2021 5,70x
EV / Sales 2022 5,15x
Nbr of Employees 9 370
Free-Float 52,0%
Chart UNIVERSAL MUSIC GROUP N.V.
Duration : Period :
Universal Music Group N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends UNIVERSAL MUSIC GROUP N.V.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 24,75 €
Average target price 26,49 €
Spread / Average Target 7,04%
EPS Revisions
Managers and Directors
Lucian Grainge Co-Chairman & Chief Executive Officer
Boyd Johnston Muir President-Operations, Chief Financial Officer
Judy Sarah Jarman Craymer Co-Chairman
William Lloyd Tanous Chief Administrative Officer & Executive VP
Margaret Frerejean-Taittinger Independent Non-Executive Director
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