Universal Music Group set to list on US exchange; Pershing Square to sell $500m in UMG stock to make it happen
Universal Music Group (UMG) announced Wednesday (January 15) that Pershing Square Holdings, led by billionaire investor Bill Ackman, has requested a secondary listing of the music company on a US stock exchange.
Under a previously disclosed agreement, UMG will facilitate an underwritten offering for Pershing Square to sell a portion of its shares by September 15, 2025.
The deal requires Pershing to sell at least $500 million worth of its UMG holdings as part of the listing process.
UMG said: “Pershing Square has exercised its right under the previously disclosed Registration Rights Agreement between UMG and Pershing to request an offering and secondary listing of UMG in the US.”
“Pershing has waived the 120-day filing requirement and,…
