Bill Ackman-Backed Universal Music Group Files For Confidential US Listing - Spotify Technology (NYSE:SPOT), Howard Hughes Holdings (NYSE:HHH)

In a strategic move, Universal Music Group N.V. UMGNF, the world’s largest music label, has confidentially filed for a U.S. listing.

What Happened: UMG, which is primarily listed in the Netherlands, has initiated the process for a U.S. listing, as reported by Reuters. The company has not disclosed the size of the U.S. offering or the amount it intends to raise.

One of UMG's key shareholders, the Pershing Square fund headed by billionaire Bill Ackman, had earlier pushed for the company to go public in the United States.

UMG’s star-studded roster includes Taylor Swift, Billie Eilish, Drake, The Weeknd, Ariana Grande and Harry Styles.

More companies are seeking U.S. listings to take advantage of the strong rebound in American equity markets, after a temporary slowdown caused by uncertainty over President Donald Trump‘s tariff policies.

Confidential filings allow companies to keep their financial and strategic details private while coordinating with regulators and assessing investor interest ahead of making the information public.

Why It Matters: This move comes after Bill Ackman, a non-Executive Director, stepped down from the Board of Directors of Universal Music Group to focus on new obligations towards Howard Hughes Holdings HHH.

Furthermore, the company’s decision to list in the U.S. could potentially boost its visibility and market presence, especially considering the recent success of its artists. For instance, Taylor Swift’s recent acquisition of her old albums led to a surge in streams of her old songs, benefiting streaming platforms like Spotify Technology SPOT.