Taylor Swift and Drake music giant files to list on US stock market

Common Music Group’s (UMG) – which is the world’s greatest music group and proprietor of the file labels behind mega stars Taylor Swift, Drake and Girl Gaga – has filed to promote its shares within the US.The corporate, which is already listed within the Netherlands, has a inventory market valuation there of just about €50bn ($43.3bn; $58.5bn).The music powerhouse’s line-up of worldwide superstars additionally consists of Billie Eilish, Ariana Grande and Harry Types.The transfer comes as two main US share indexes – S&P 500 and Nasdaq Composite – closed at recent file highs on Monday as share markets proceed to rebound after a quick hunch over issues triggered by President Donald Trump’s tariff insurance policies.UMG stated in its assertion that it has filed a confidential assertion with the US monetary markets regulator, Securities and Alternate Fee (SEC).The potential public providing stays topic to evaluate by the SEC, it added.The corporate didn’t reveal the scale of the deliberate US providing or how a lot it might elevate.Confidential filings enable companies to maintain data personal whereas partaking with regulators and assessing investor urge for food for a share sale earlier than disclosing particulars publicly.Billionaire investor Invoice Ackman’s hedge fund Pershing Sq., which is likely one of the greatest shareholders of UMG, has beforehand pushed the agency to listing within the US.In January, Mr Ackman posted on X {that a} itemizing within the US would push up UMG’s worth.”We additionally imagine the US itemizing will significantly enhance buying and selling liquidity for the shares,” he stated.