Tue, 21 Sep 2021 12:06:58 GMT
Listing puts record label’s British-born boss in line for one of biggest corporate payouts in history
Universal Music Group’s shares surged by more than a third in its stock market debut on Tuesday, putting its chairman and chief executive, Sir Lucian Grainge, in line for a potential bonus of almost $150m (£110m).
Shares in the world’s largest music company, the label behind artists including Taylor Swift and Bob Dylan, rose more than 35% to €25 a share in early trading giving the business a market value of more than €45bn.
Source link for full text: https://www.theguardian.com/music/2021/sep/21/universal-music-group-shares-surge-lucian-grainge-listing