UMG Takes Steps Toward U.S. Stock Listing

US ECONOMY MARKETS NYSE — The day’s numbers and statistics are displayed on a monitor on the floor New York Stock Exchange (NYSE) at the opening bell on July 18, 2025, in New York City. Upbeat company earnings and healthy US data buoyed stock markets on Friday, pushing ongoing concerns about President Donald Trump’s tariffs into the background. New York — whose S&P 500 and Nasdaq Composite struck record highs on July 17 — held on to gains, even if the Dow struggled a little at the start. Most European and Asian markets were pulled higher as well. (Photo by ANGELA WEISS / AFP) (Photo by ANGELA WEISS/AFP via Getty Images)

Recorded music and publishing giant Universal Music Group has applied to open the trading of its stock on U.S. markets, the company announced Monday.

Netherlands-based UMG said it filed a form F-1 – used for the selling of securities by foreign issuers — with the Securities & Exchange Commission, which would allow its shareholders to trade in American markets. The authorization, if approved, does not include the issuing of new shares as in a traditional IPO.

The application triggers a review process by the SEC.

Earlier this year, Bill Ackman, the CEO of Pershing Square Capital Management (which holds more than 7% of UMG’s stock), pushed for UMG to relocate stateside and begin trading on American markets. A provision within the Pershing Square shares gives the firm the ability to force stateside trading. Ackman called for the change after a group of Israeli soccer fans were attacked on the streets of Amsterdam. He later resigned from UMG’s board.

Shares of UMG are primarily traded on the Euronext exchange in the Dutch capital. The company’s current valuation is $58 billion and its shares are up 10% this year.

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