Warner Music Group Shares Up 20% After First Day of Trading
Shares in the Warner Music Group were up 20.5% on the NASDAQ stock exchange at the close of trading Wednesday (June 3), its first day on the market as a public company under Len Blavatnik’s Access Industries. After being priced at $25 this morning, in line with its projected $23-$26 IPO price, and opening at $27, it finished the day at $30.12, according to MarketWatch, for a market capitalization of $15.36 billion and an enterprise valuation of $17.85 billion, when debt is included.