Lady Gaga performs during the Pepsi Zero Sugar Super Bowl 51 Halftime Show at NRG Stadium on February 5, 2017 in Houston, Texas.
Tom Pennington | Getty Images Sport | Getty Images
Universal Music Group shares surged in its stock market debut Tuesday, in Europe’s largest listing of the year so far.
The company behind platinum-selling artists including Lady Gaga and Taylor Swift opened trading at around 25.05 euros ($29.37) per share, more than 35% above the reference price of 18.5 euros per share.
In June, French media group Vivendi won the backing of shareholders for its proposed spin-off of UMG, which is considered its crown jewel. 60% of UMG’s shares will go to Vivendi shareholders.
The company listed on the Euronext Amsterdam stock exchange.