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Warner Music Delays IPO Plan Due to Coronavirus, Report Says

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variety.com
variety.comvariety.com:

Warner Music Group has delayed a plan to kick off its IPO this week due to concerns over the coronavirus, according to Reuters, which cites “people familiar with the matter.” Fashion company Cole Haan also postponed its plans, according to the report.

The companies made the decision after the S&P 500 Index lost close to 12% of its value last week, although stocks resurged on Monday.

According to the report, the company “hoped to communicate to the market their targeted price ranges for their shares and begin formal meetings with potential IPO investors on Monday,” adding that “the companies have now put these plans on ice until the market improves.” Reps for Warner Music did not immediately respond to Variety‘s requests for comment or

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