Universal Music Group, a spin-off from Vivendi, rose 37% on ...

Universal Music Group, a spin-off from Vivendi, rose 37% on its first day of listing in Amsterdam on Tuesday, with a market value of more than 46 billion euros. Universal Music Group is the largest listing in Europe this year, and 60% of the equity will be allocated to Vivendi shareholders. Universal Music is the world's largest music company, and it is also known as the world's three largest record companies along with Warner Music Group and Sony Music. Prior to this, Tencent investment affiliates invested in Universal Music Group twice, holding 20% ​​of the shares.