Warner to list on Nasdaq in the first big-name launch since pandemic

Warner Music, the world's third-biggest record company, is to list on the US Nasdaq today, with an evaluation of $13.3bn. It is the first big-name flotations since the coronavirus pandemic hit the world’s financial markets and the largest initial public offering (IPO) of the year. The coronavirus pandemic has failed to dent the streaming revolution - Warner Music’s streaming revenues have risen 12% in April alone, the New York Times reported. Warner delayed the pricing of its initial public offering on Tuesday to avoid the shares being sold on a day the music industry set aside to support protests against police brutality in the U.S., Financial Times reports. The pricing is scheduled for Wednesday morning. Warner has finally announced the pricing of its initial public offering at $25 per share, Music Week reports.