Universal Music suspends US IPO plans due to market uncertainty

格隆汇2026/03/06 02:27

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Glonghui, March 6｜Universal Music Group, the world's largest music recording company, has shelved its plan to list in the United States due to market uncertainty. This decision deviates from the agreement reached with billionaire Bill Ackman's Pershing Square, which believed that a New York listing would boost Universal Music's stock price and liquidity. Universal Music announced full-year revenue for 2025 of 12.5 billion euros, representing an 8.7% year-on-year increase at constant exchange rates. In 2025, Universal Music's artists dominated the global charts for the third consecutive year, occupying nine of the top ten spots on the IFPI Global Artist Chart, led by Taylor Swift, KPOP group Stray Kids, and Drake.

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Incordex appointed Chen Wang to its board effective Sept. 29, 2026. Wang founded his own brand. He has served as founder and board chairman of Yunnan Jinshengchang Technology and Trade since Oct. 2024. He previously led global pharmaceutical education operations at Meixin E-commerce. He later ran education operations at Zhuyuan Grop. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Incordex Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001477932-26-006080), on October 07, 2026, and is solely responsible for the information contained therein.

Bitget•2026/10/07 16:03